S&P 500The chart represents a possible scenario of the expected decline.
- Assume Pt. X, where the Sept 14 high touches the line AE, is the intermediate cycle high.
- Assume that the ensuing decline will be parallel to the previous decline AB
- Therefore: XY // AB
- 1395 is the center of XY. This point is around October 17-19th. A break below 1395 next week would suggest that the decline might become radically non-linear.