The death cross occurs when a short-term moving average crosses over a major long-term moving average to the downside and is interpreted by analysts and traders as signaling a definitive bear turn in a market.
The death cross is a technical chart pattern indicating the potential for a major selloff. The death cross appears on a chart when a stock’s short-term moving average crosses below its long-term moving average. The death cross indicator has proven to be a reliable predictor of some of the most severe bear markets of the past century: 1929, 1938, 1974, and 2008
As we can see it occured in 2008 aswell and the chart and other indicators (RSI and stoch RSI, but also ichimoku cloud and few others) are almost indenticial to when the crash in 2008 happened. The AEX will take a big hit and may fall to 0.786 fib. level and perhaps lower.
I agree, although not with your analyses that we will have a 0.786 correction. From an EW perspective, the correction between 2000 - 2009 could be the completion of an ABC correction. From 2009 we have seen 3 waves up marking the completion of the first bigger wave up. I would expect an ABC correction now but not lower than the high of feb 2011 and the low of feb 2016 being 390 - 370.
Decrazer
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@gmtfooh, I understand what you're talking about. Interesting perspective let's see what will happen :)