Pros like log charts, so here is one simple channel, going through 1982/2009 lows. Below is also through 1974/1982 lows, 2009 low failed to touch it. This channel and its fib lines are fitting remarkably nice.
Interpret it by yourself, i see there break of middle 50% line (after previous tests) and after reversal at and support = obvious sign, is not indicating decline. Could be fake, trap, sure, who knows, but if not, then we should hold that line or do not sink below 2040.
I am not going to call targets from this channel, 2265/2300 level looks like minimum at linear scale if we entered the topping pattern like in 2007/1999. Or maybe we wiil follow the line for another 3 years like in 2004-2006. Or we just entered the second continuation pattern like in 1996.
Lot of players are calling the correction and buying puts - so it looks like a good chance to catch them on the wrong foot. I will watch 2040, ema67w, red support (1880) and pink resistance line.