Based on nothing but the ten year chart pattern, I'm guessing...

Based on nothing but the ten year chart pattern, I'm guessing the US, S&P500 might eventually work its way lower to between the 100 and 200DMA's, perhaps settling at around about on the red line that I plotted. It might do that with a continuing decline or a sideways move until the rising line meets it. That is a ten year chart so that might not happen for years from now - if at all. For all we know, reserve banks get scared and drop rates again if markets continue lower and the economy slows. Then markets could see another big rally perhaps to new highs again. Anything is possible but for now I won't be betting on new highs in the next year or two.
At the same time, over the next year or two, I see every reason to expect MNB to trend higher, at least roughly within the band shown in the chart below. Lots of room for volatility but it should go much higher as it moves to phosphate production early next year and green ammonia development from there. The green ammonia has potential to push the sp well beyond that upper red line if the red line was drawn as a straight line. The slightly exponential rise fits the trading pattern better and allows for an accelerated sp rise later as the green ammonia progresses into development.
Now time for me to relax for the long weekend. Enjoy everyone.