To put it simply, the blue uptrend channel must break for a bear case.
3 EV/EBITDA valuation. 5.5% yield. Healthy balance sheet and cash flow.
Green: The 1929 crash high (based on monthly close) to the dot com crash low..... 0.786 was only 2 months off from 1987 high. I'm looking for a major peak in 2023 and 2031-2033. You'll likely see another great depression crash after early 2030's. 2039 could be a major low.
Top of weekly cloud (16.20) is target. Holding 50 ema weekly and weekly bottom of cloud.
December 2016 low (Roughly 1,650 S&P) Oct 2018 (Next ATH peak) 2,300 S&P Take 09 crash low (March 2009) to May 2015 high. 1.272 sq root of 1.618 gives us the low Dot com low (blue) to current May 2015 high. 1.272 next high 2016 peaks next month (April 2016) 1.786 Dot com high (orange) to 09 low