Observation comparing ASX 200 vs S&P 500. S&P 500 70% crash?

I'm new to investing and charting/analysis etc. Decided to compare Australian vs American market long term after looking at ASX long term first. It seems ASX mostly sticks to the regression trend channel I drew and American market was doing similar but has bull runs going far out of channel but rejoins and during GFC joined back to pretty much the same as ASX. Just looking at the trend my instinct is that this pattern would continue and S&P 500 would join back to channel within the next 5 years, which would be about a 65-70% drop from current price. Not sure whether both markets would continue for a while first, but they both look due for correction/crash to me. Interestingly what I thought was a crash last year due to Covid just looks like a correction long term for the long bull run of the S&P 500 which is looking like it's extending above its linear trend for the bull run.

Interested to hear others opinions on why they agree or disagree and when people think the next correction and/or crash will be and how much.

Thanks.