S&P with dotcom overlay - is the S&P heading for a 50% fall??

The chart shows the current S&P price action with an analog overlay of the dotcom bear market.

Scenarios;

1/ Near term support at 3900
2/ Mid term support at 3600
3/ Longer term support at 3200

A break of all 3 of these support areas could possibly see a fall to 2345 or even covid19 lows.