Consolidation is proceeding perfectly along the 50% retracement
. The next two possible moves are pretty clear - but the bullish
one would be a continuation of the trend that has existed since the bubble bottom. If the bear scenario plays out, there is really no way to remain in this trend any longer, which should be seen as a more serious, deep, and longer-term bear forecast than any of the selloffs which have occurred after the peaks in this channel.
(sorry for the lack of fib retracement overlay - publish seems to have hidden it completely)