DAX falls

DAX's decline on Monday saw half of its members crater below their lower Bollinger Band:

As one would expect, such breadth readings led to better-than-random returns for DAX over the next 3 months:

If we look more closely at signals over the past 10 year, DAX's returns over the next 3 months were slightly better. But then again, that's mostly because the past 10 years have been a bull market (barring the hiccup we saw in March).