Here's a chart I posted on May 24, 2018 in my publication I linked everyone to above with a focus on end of 2014 to 2015: I provided an additional scenario to consider with Blue text bubbles. If that scenario plays out to take us down even further, then we're looking at the $4,000 to $,4500 range potentially. I'm still leaning towards the scenario I provided in the first chart. I'm hoping we are currently located similar to where you see the 2nd AR (Automatic Rally) going down to the Spring/Test in the chart below.
Thanks. Proper (but relatively simple straightforward) technical analysis here. It is always correct to propound at least 2 opposing scenarios.
If comparing with the 2014-2016 chart, the time frame needs to coincide to be valid. That will not be a popular view, because it consigns the Wall Observers to another year or two of an anxious bear market.
I am hoping for the better scenario, although my instinct and experience tells me that hope doesn't normally coincide with realism.