Once even these latest technological bulwarks succumb to gravity, all indices will likely drop another 10% yet. And at that point we would probably have hit rock bottom with the "capitulation" of the markets. At a financial technical level we have a VIX index which continues to remain very very high, and at the same time we have the financial markets which continue to record modest declines, without particular serious repercussions (the Dow is only about -10% from the highs), while the '' Fear index, Fear & Greed is at 18. With this market setting something very violent is about to break down, at least this is our interpretation. The EURCHF also signals a "risk-off" mode, which has not been seen at these levels since the glorious January 15, 2015. But there is still room for a further decline, even below par, as indicated in our operations. Meanwhile, in the Asian closings, the Chinese onshore spot yuan ends the internal session at 6.3107 per dollar, the strongest close since April 24, 2018.
We have to be very careful, the situation is complicated and the probabilities of a downside are certainly greater than those of a rise.
We have to be very careful, the situation is complicated and the probabilities of a downside are certainly greater than those of a rise.
