Spy macro trend and points of major retraction

targeting approximately 5 to 10 trading days after contact with orange macro trend line for major price drop. daily channels are typically within the parallel blue lines and a lower bounded channel for the bottom of larger price corrections. If the lower bound breaks, look out. Has not happened yet and but expecting a price target of 465, 450, 420, and 400 when downward price action forms. Till then, expecting range bound price action going up along the orange line.

The purple radius lines are all the same, and interestingly that oblong line is the same on each 'wave' or sequence. Not sure how to apply it yet, something of a work in progress.