Here is an update of the SPX analog from after the close Wednesday. I have tweaked the overlay after Wednesday's price action and after seeing how the respective momentum metrics uncoiled. Although the market bounced just as it did in the Spring on the 50% fib retracement level - the RSI, MACD and Stochastics indicate the market likely has more work to do on the downside. I am moving the goalposts to the next natural target which is 1200. For analogs such as this - a more severe retracement will come into the calculus if and when the market swings higher out of this low. Naturally, a target high from a 61.8% retracement correction will be less than a 50% retracement - such as in the Spring.