sp500 target

Now a similar chart for S&P 500. the initial downturn leg was from 1200 to 741. This makes the move 459 points. This is the difference between the upper and lower white line.

Now after the coil shaped horizontal move it has broken on the downside.

This brings into picture the second leg of the downturn. Starting point is:808. For this move to complete the index will have to go down to: 808-459 = 349. Is this move going to be completed. That would bring the S&p down from peak of 1576 points down to 349. A total drop of : 77%. That is a dangerous figure which is close to the worst that was seen during the great depression.

Probably this move is not going to be completed. At least I hope so......