At this level we have an ABCD completion from the mid May low. This is a major multi month pattern with the added confirmation of a 3 Drive ABCD at the same level.
If we expect the same move lower as the previous September retracement then that brings our target to the 382 of the ABCD pattern around 4500 which is a Major level.
At this level it could be good buying opportunity.
We will see how the next few weeks play out..
A.I has a major Low/High in Feb but I will need to see how Jan plays out to see what it will be.