If we draw some channels and add some fibs, we can propose our first low on all of this is the March FOMC, which also lands on a Full Moon.
|SPX proposed low March FOMC @ 2124 SPX|
Larger question is whether the real crash phase that comes in Fall 2019 can break us out of a very long term, important channel. Losing this channel probably means the end of the long-term economic cycle defined by the existence and effectiveness of the Federal Reserve itself.
I'll let you draw your own conclusions from that proposal.