SPY - Most Bearish Ever!

This is the most bearish situation I have ever seen unfold.

I try to solve the harmonic puzzles of the market on every time frame... starting with the smallest, and working outward... but only once I have confidence in each prior level. This is the first time I am pleased with each level, this far out.

What do you think?

Good Luck!
Beyond Technical AnalysisHarmonic PatternsSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) VIX CBOE Volatility IndexWave Analysis

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