This is short term prediction for the S&P. The first trend line (with dashes) is drawn using the lows of 2011 and 2012. It accurately reflects the bottom from the selloff in 2014. Since we have broken that trend line, the newer line (in teal) now begins from the lows in 2009. The newer trend line seems to imply that we are in line for a 20 percent correction. The velocity of this current sell off (along with several other economic factors) further adds to my belief that more selling is ahead of us. This is chart for market timers. If you are a long term investor, I would recommend buying stocks at this very moment as I feel that the entire market should recover by Q4 during earning season. I also want to note that peak to trough selling points were calculated using candlesticks. Good luck everyone!