The current drop is too much too fast, although there might be some fundamental issues in the background. We had a similar setup 2011 where DAX dropped very fast in a single month. From a technical perspective, I'm neutral at the moment, i.e. too much of a risk to further short right now, but also front running going long at this stage.
Expect rebound but more action on the downside in the near future.
Expect rebound but more action on the downside in the near future.