Not a price prediction by any means, just a historical analysis based on a similarity between June 2019 and Nov 2015 local tops:
If we are to litererally follow the 2015 scenario (and we likely won't), then we should bottom at about $8300, then go parabolic from there.
Considering that the graph is a bit smoothed already, I say that 9300-9600 might be possible, short term.
In Nov 2015 we went 20% down in the second leg, almost vertically.
That would be about 2200 points now, give or take.
I am not setting up buys there yet, though, as the whole thing is purely theoretical...for all i know, maybe we will just continue the bull from here.
If like me you follow point and figure charts the weekly indicates a reversal at $9412:
Others would look at the daily 50 SMA now at ~ $8900. Daily Ichimoku Cloud support is at $8000. Me, I would not like to see price break through the $10,000 level.
