Table 4. Forecasting results in all scenarios for the indices.

Index	Scenario	Time step	RMSE	MAE	MAPE	${\mathbf{R}}^2$
S&P500	Scenario 1	5	6.9013	5.3612	4.9323	0.8046
		10	7.4713	6.1221	5.4440	0.6666
		15	7.3907	6.1057	5.0829	0.6903
	Scenario 2	5	6.1225	4.7923	2.2288	0.9431
		10	7.3718	6.2237	2.3221	0.7003
		15	6.6946	5.8330	2.3448	0.8106
	Scenario 3	5	5.2491	4.1086	1.9110	0.9512
		10	6.3197	5.3354	1.9909	0.7431
		15	5.7394	5.0007	2.0107	0.8376
DAX	Scenario 1	5	18.6773	15.8175	9.2827	0.8370
		10	23.4496	19.6941	11.2345	0.7256
		15	22.8000	18.7486	11.2457	0.7123
	Scenario 2	5	13.6687	12.1355	3.7203	0.9728
		10	17.8461	15.5167	3.7956	0.9500
		15	16.8262	14.0575	3.7117	0.9017
	Scenario 3	5	11.7707	10.4151	3.1193	0.9770
		10	15.2011	13.1796	3.1783	0.9581
		15	14.3498	11.9659	3.1078	0.9179
DJI	Scenario 1	5	64.1036	51.0375	4.6789	0.7963
		10	76.7421	64.8978	4.6717	0.6458
		15	69.6178	54.4051	4.7296	0.7835
	Scenario 2	5	29.1110	24.6261	5.7191	0.9346
		10	42.7217	37.2901	5.5960	0.7577
		15	26.8920	22.7033	5.6887	0.9722
	Scenario 3	5	25.4506	21.5191	4.9036	0.9439
		10	37.0988	32.3404	4.7977	0.7923
		15	23.4998	19.8059	4.8770	0.9761
SSE	Scenario 1	5	9.3477	7.6544	3.3557	0.8116
		10	9.7774	8.0523	3.3336	0.7564
		15	12.6617	11.2470	3.4131	0.6840
	Scenario 2	5	8.4603	7.0721	3.2049	0.9430
		10	8.3467	7.0678	3.1801	0.9456
		15	12.2441	11.3312	3.3860	0.8317
	Scenario 3	5	7.4032	6.1885	2.8059	0.9501
		10	7.3038	6.1847	2.7836	0.9524
		15	10.7141	9.9153	2.9638	0.8528