Yes, indeed we must be getting close to some kind of definitive...

Yes, indeed we must be getting close to some kind of definitive moment. If we do make new lows, it will signal to me at least that we have a 5-wave decline from the all time high, which means a significant bear market rally should come about eventually. When that rally completes, the market should turn down again to more new lows and a horrific period. The other big picture scenario is if we don't make new lows here. Then it's possible the decline since the all time high was a corrective pattern. This would signify one more major push up, perhaps even a new all time high but almost certainly close to it. I give the second scenario a smaller probability but time will tell.