Distribution pattern possibly setting up after retest of 2004 highs. Recent close below support signifies coming weakness and expect further weakness into the next couple of years.
The leg start is either an area of distribution or accumulation, commonly and incorrectly called congestion areas. If you use volume profile, leg starts are usually volume points of control (VPOC). Leg starts are significant levels of support or resistance. It is generally near the tops or bottoms of a move up or down. They are the level where you will find your consolidations forming their base whether it be a peak or valley. It is the initial level of support and always the last level of support to be tested on the leg. To answer your question, price will always target the previous support it lost that eventually allowed the price to cascade down to where the price found support to start the rally or move up