All the features of are clear:
1. Impulsive wave A with 5 internal waves
2. wave B which is abc retracement.
3. Wave C is also with 5 internal waves and the final 5th wave to upside in progress.
4. Evident momentum divergence between peak in Wave A and Wave B
Based on the above, I am making the assumption that the September 2012 low could be larger wave (A) and this rally being wave (B). If correct then in due course, wave (C) target could be in the region of September 2012 low or make new lower low.
I can understand that this might seem illogical to some, but very likely scenario particularly if the suggested decline also coincide with major weakness in wider market. See my S&P500 Chart
As always, do you own analysis.
Do let me know if you have an alternative viewpoint with chart if possible. If you like the idea, please share it with others.
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Lets get ready for the music to begin.