Yes, and classical analysis says that The "MINIMUM" expected move ( should the pattern succeed ) would be a Target Point - BEYOND THE BOTTOM OF THE SCREEN. .( the distance from the Head to the Neckline ). Hope for the best - Prepare for the worst.
The S&P has gone on to make a new relative low three times now after making cycle highs around the Dec / Jan . We should see it at the bottom of the Channal in about April. I think it could be in the 600s by then. Runningbear
My only interest as a daytrader is that as the index gets lower, the daily intraday point movements are likely to shrink. So I guess the idea is to gather the hay while ye may. And if the intraday moves never shrink to much, all the better.
480 before all is said and done..look at ALL the parabolic moves you want to..they end where they start..SP no different... This BEAR will end with mouth's agape at the carnage... And that's my take..No one is prepped for it. best david