Needless to say this is highly speculative and dependent on the formation remaining active.
As I have previously noted this feels more like a long, grinding bear market than a 'crash.'
Ultimate bottoms may be much lower depending on how the Fed and especially the government react.
The tone was set in 1987 for massive intervention to rescue the financial system, if not the public.
The policy has continued and strengthened in the last three bubble and busts.
Or it may not continue on like this at all.
But for now it is 'in the pipe, 5 by 5.'
