Since May, the German I-Shares have completed a 5 wave impulse pattern followed by a 3 wave a-b-c corrective pattern. In late June this resulted in a selloff. This pattern repeated itself for the second time this summer. After the a-b-c corrective waves (ending August 15) EWG-has gone sideways. I believe the path of least resistance is down. My next chart is of Germany-I-Shares, only the time horizon will be weekly.