European equities including the German DAX have been notable laggards this year. After falling below its 50-day moving average (DMA) for the second time in just over a week, the DAX broke below the support of its January and February short-term lows last week. While that was a seemingly negative technical formation, it didn't last long. In the last three days, the DAX is now up over 4%, and just today the index moved back above its 50-DMA and its short-term downtrend from the mid-March high. Is this the beginning of a turnaround for German equities and the rest of the region, or just another technical head fake?