The military exercise Zapad Russia with Belarus (every 4 years) begins. Could it be a preparation for the invasion of European countries as was the case with the war against Ukraine? Poland and the Baltic countries show a certain concern. Along with the test of the new medium-range Russian missile Orekhnik (developed against the rules of international treaties, touted by Putin challenging anyone to possibly intercept it) and intended unequivocally to strike Europe.

The geopolitical situation is very bad with a very confident Putin who has gained the upper hand over Trump according to Western media outside the US this evening.

Nothing in our analyses (which led us to announce a bearish reversal posted here since August 13 and the failure at 124,000) shows that this anticipated decline should stop.

The geopolitical situation raises fears of the worst for risky assets, with cryptocurrencies at the forefront.

We have extensively published here on the risks of the bubble explosion for so long. There will be no surprises for us nor profit-taking before. The psychological supports are, as always, well defended while waiting as expected.