I can not find another option, as conservative as I can be and even then it tells me that we have to go a little lower ...
Using the most conservative supports my analysis indicates that we should go down to at least the area of 2470/2400 ... Honestly I am not taking into account any other factor than the projection of the angle and supports that Ichimoku gives me plus the previous bullish angle levels.
Something interesting is that it is the first time we see a movement of this type, with such a rapid descent. In previous cases such as in 2002, 2009 and 2016, the decline was very gradual taking up to two years to reach its minimum point. In this case the ascent as the descent has been much more violent so it is difficult for me to take the historical ones as reference.
This is just an analysis and I know that the people interested in this index are mostly professionals. I publish with great respect and only with the interest of examining how reliable my analyzes are.
Best wishes to everybody.
Using the most conservative supports my analysis indicates that we should go down to at least the area of 2470/2400 ... Honestly I am not taking into account any other factor than the projection of the angle and supports that Ichimoku gives me plus the previous bullish angle levels.
Something interesting is that it is the first time we see a movement of this type, with such a rapid descent. In previous cases such as in 2002, 2009 and 2016, the decline was very gradual taking up to two years to reach its minimum point. In this case the ascent as the descent has been much more violent so it is difficult for me to take the historical ones as reference.
This is just an analysis and I know that the people interested in this index are mostly professionals. I publish with great respect and only with the interest of examining how reliable my analyzes are.
Best wishes to everybody.
Comment:
a complicated day for the market... this baby and I have a scheduled appointment