#SP500 [1W] has swept liquidity at the 2024 low, setting up a dead-cat bounce over the next few months before the real recession hits. If the Great Depression analogue plays out as expected from an EW perspective, the current -22% decline is just 25% of the total downside move. During the bounce, crypto (which has held strong) is likely to blow off in 4-6 weeks. Then, everything collapses.