Last couple of moves down have been 1300 points, followed by 2600 or 2x moves to the upside.
Covid was a little shallow but had the same sized upward move.
My hypothesis is that Tariffs and the uncertainty the current administration is creating will create something in-between the covid V shape spike/bounce and the Jan 22 – Oct 22 down turn followed by the Oct 22 – Dec 24 highs. That down move retraced about 50% after touching or establishing the trend, chopped around, went down to trendish area, chopped around, made a head and shoulder pattern of sorts, then started it’s move back up. This time it’s not exactly caused by a virus… and I think the trade uncertainty will take longer to untangle, not to mention the devaluation of the dollar, bonds potentially being weaponized by foreign actors, etc. etc.