DJI

Looking at DJI on the 2 month chart

Technicals:
* Fib study done off the entire range
* Price bounced back from the .382 fib also leaving one hell of a tail that eventually get eaten
* Tail size approximately 33%
* Many gaps especially on a 2 month chart
* Histogram has made a LL
* W%R has been heavily over bought and also embedded
* RSI has had a bearish divergence in play since 1998 :O

Generally the market like to take back 50% of value in a recession and so far we've seen DJI take back around 38%. Going back to previous years of 2009 lost 54%, 2000 lost 39%, 1987 lost 41%, 1932 lost 89% so backed by historical data.
My other concern is that it was left a very long tail and tails usually like to be eaten meaning filled in 91% of the time. I still think we have a few rough years to go.