Captain the downside projection needs a separate piece of work. I'll wait for the turn to analyse that. However the butterfly pattern is a year long major market reversal at the top of a 7 year move. It wont be a small correction and then we go back on our merry way. It will be a major unwinding of the market as a final clearout of the post gfc effects.
Start with the assumption of a 50% retrace of the rise, and below the bottom levels of the pattern from last August and January.
Captain the downside projection needs a separate piece of work....
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