The blue step is a bit of a stretch but not impossible. Today, my confidence for this target is at 60%. This will change over time. I'll try to provide updates when we move lower.
I've provided the new analysis here:
Anyway I expect this to rip down to 262 shortly.
We will not revisit the top anytime soon. Few years. Markets will go lower I believe.
Some nice bounces coming soon during earnings.