Here is the monthly chart combining the DAX and the Nasdaq100 indices.
There are now 5 months of lower highs on a monthly scale. YTD, the two indices are collectively - 16%.
The latest May bar is Red and still indicating weakness. As long as there is a lower low and a lower high on a monthly scale, weakness is prevailing for the longer term. From June 1st close, there is more than + 4% to the latest bar top. Only getting above this point could revalue current bearish stand.
2022-06-07 06:39 | Nasdaq100, Dax, Longer Term