Dax...breakout or Fib retrace ?

The Dax has finally reached its major fib retracement.I am cautious about regarding this as a breakout........money has flown into Germany because it is the best of a bad lot in Europe but it is hard to imagine that it will be immune to the difficult economic times ahead for Europe and that the banks in particular will  emerge unscathed from further sovereign debt woes.Obviously there is no sell signal yet though.Further ahead Germany could be re-rated if it breaks away from the European union,but that is jumping the gun !