Weak prospects pt II

The Banking index began its fourth wave correction/consolidation yesterday, shown here on an hourly chart. I expect further probes to the upside, which will get weaker and weaker. It is possible to argue that the move off the level market with a blue "4" is complete, and a full reversal has begun. Arguing against that is the internal structure of the broader averages, illustrated on the next chart of the DAX.
The DAX has entered its fourth wave correction/consolidation. This wave structure is incomplete to the upside (at least a new high is required). I expect this to take most of this week.