Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the shows the index streched on price.
The downmove in 2000 took the SP500 - 48% in 668 days. The downmove in 2007 took the SP500 - 56% in 518 days. If we calculated the shortest move in price and time, markets can end up below 1.000 within March of 2016. Comments?
If we break at least 2 weekly lows, the reversal should be in, I had the same fork a while back along with some nice Action/Reaction Lines originating as far back as the April 94 Lows! This also points to some very important 7 year cycles terminating Oct/Nov 2014. In the past century we have had many collapses and panics at 7 year units ( Can be +/- 1 year ) 1987 + 7 = 1994 + 6 (7) = 2000 + 7 = 2007 + 7 = 2014. If we get the reversal, the drop to the median line has a high probability around 1560, if it then zooms through the median line again 1000 ( approx at bottom pitchfork parallel ) is the next target. Nice pickup on replicated correctional targets.