Looks like a good short from here. As always however, it depends on $GBPUSD.
We are at the 61.8% fib, and Jul 11 high, and hovering oversold. Possible reversal.
Fractal based on July 12th rate hike suggests as low as 1.1887, 6:1 trade
Since August the Chinese big 3 $BIDU $BABA $TCEHY have outperformed the US big 4 $FB $AMZN $NFLX $GOOGL
implies another 22400 then 400 point drop.
Sell the gap closure 21978, with SL above previous high.
$DJIA 1992 shows a modest 3% drop quickly recovered. Electing a Democrat was a bigger issue.
See also my daily chart.
Difficult one this. Certainly a reversal now, but fundamentals suggest a breakout above 0.78
This is based on the Nikkei 225 price action from late 1987 to 1990. The existing action fits well, we are now at early November 1989. This chart presumes one more fast ramp by SPX to 2620, then a sharp 18% fall wiping out all the Trump gains. This would be followed by a 50% rebound, and then further falls into the next few years, eventually reaching the 2007...
Classic #DowTheory - implies 21600 support will hold for a while.
Very slow bullish triangle, but for now, EUR strength is DAX weakness and vice versa