Back in May, I posted a study [see: Sure, It Works in Practice] that found a 87-day cycle that did a pretty good job of predicting significant downturns.
I haven't posted the chart in a while, so here it is again for anyone who's been watching. The predicted 30-trade day low of 1197 happens to correspond with where I think we might find the next level of support.
Keep in mind, that figure is based solely on achieving the average 11.03% decline that the study has found. This one could be better or worse.
I'll add to this post after the close today.