23/10 Indices, page-90

Gentlemen... These are the percentages that the XJO dropped below the 200 EMA on the weekly the last 4 times (not including the covid drop):

December 2019: ~6.1% below the 200 EMA on the weekly
September 2020: ~4.7% below the 200 EMA on the weekly
June 2022: ~3.9% below the 200 EMA on the weekly
October 2022: ~4.3% below the 200 EMA on the weekly

October 2023 (present time): ~1.6% below the 200 EMA on the weekly

If we use an average of 4-4.5%, that would bring us to around 6600 XJO.

Do i think it will happen? Not sure... but its certainly possible and something to keep in mind.