Here is a more in-depth multitimeframe analysis, starting on the monthly:
2. broke level but reintegrated above it
3. Since 2009 subprime crisis we always stayed above 40
4. If we did broke below this level it would have meant a bigger market amplitude.
This means we didn't get the long term sell signal yet, here on the monthly.
Did we got out of a crisis situation ? Still not.
On a weekly timeframe:
1. Again a Beautiful divergence
2. We are hitting the bottom area
3. Salvage rebound
Now if we retrace the drop , we see that we are now around a .382
2H is the chart we want to keep an eye at for short term buy signals.
There is a possibility to continue the rebound a bit but to me it is too risky.
I want to see more strengh than in this red circle. We are playing against the global trend...
We will not see the end of the crising until the lockdown is released and economy restarts.
Until then, we can expect everything to happen.
For investors, patience will be key. If you think this is a life opportunity, alright. I'm staying cool for now personaly, I'll wait.
We see the FED and institutions BUY A LOT to sustain the markets. The question is: after this crisis will the markets still be here?