From the mid November to the early December top, it looks like an expanded patter, followed by a dramatic crash and then another wild run which looks very impressive as another impulse. Then yet another move down, which also looks like a great impulse. For this to push much higher we need the markets to show us a decent correction end with some type of "C" wave decline. This has not happened just yet, but if my expanded top is true, then this too should get exceeded in due time.
At this time I am going to keep my large degree triangle in play, but the "D" wave top has not completed yet. Once the "D" wave is completed, then we know my target will be the 2008 lows, but I would need a three wave crash to seal in the "D" wave. The trick is knowing as soon as we can how something starts out as it will determine if a 100% retracement will happen. Only a good forming impulse will determine a new trend as they are the type of waves that compounds on top of each other.
A new moon is coming by the end of the week, (11th) which can be very bearish for stocks.