FEZ, the 50-largest-stock European index, shows a weekly-daily synchronization located at mid-to-late November, still far off, so European markets are expected to continue moving downward until that mid-to-late November period.

We will first look at the major global stock market indices, such as the FXI and FEZ indices.

Let's now look at the FEZ index, which comprises the 50 largest stocks by market capitalization in Europe, and you will see a very similar scenario. This weekly daily synchronization here is located at the end of November, far away from here.

It's mid to late November. This suggests that European markets will continue to move downwards until that period from mid- to late November.