If you look at the S&P 500 Stock chart, we see a very large Major Dome. Dome patterns are often a topping pattern, and the larger the dome, the larger the drop.
We see the large dome start from around 2014 all the way up to February, 2016.
Based on the height and magnitude of the dome, we (human opinion) expect a downside target of around 1600 on the S&P 500, for another drop of 13%, sometime in 2017.
Not all Bear markets go straight down, so there may be short and violent tradable rallies, but we are likely to hit 1600 on S&P 500 by sometime in 2017.