Signs of a new recession?

This is a simple Elliot Impulsive/ Correction Wave analysis of a hypothetical upcoming market recession based on the Dow Jones Industrial Average. The crash is modeled after the 2007 - 2009 Sub-prime mortgage crisis.

This projection is based on the assumption that the ABC correction wave will drop lower then the (2) impulsive mark by -12.85%. The A B points are estimated based on a very illustrative (1) (3) (4) channel.

This concludes the C wave at 9000.

This is an extreme scenario on a very long term scale and is not intended to be a trading recommendation. Use it at your own discretion for reference purposes.