Looking at the 25pt naz chart and specifically the pullbacks after a bear market rally that gives a buy signal, it doesn't appear that we have completed this downleg. The trend appears to be that the previous low is exceeded by 125pts (or 5 boxes on the 25pt chart). This applies to this year. Last year it looks like 175pts was the norm. This implies that we may be looking for 1075 before we get any meaningful bounce.
Link is to the full chart, posted chart is the default time for 25pt chart. stockcharts.com
2,100.00 | |+ | | 2,100.00 2,075.00 | |X + | | 2,075.00 2,050.00 | C |X O + | | 2,050.00 2,025.00 | X O|1 O + | | 2,025.00 2,000.00 | + X O|X O + | | 2,000.00 1,975.00 | + X O|X O + | | 1,975.00 1,950.00 | + X O|X O + | | 1,950.00 1,925.00 | + X O| O X + | | 1,925.00 1,900.00 | + X | O X O + | | 1,900.00 1,875.00 | + X X | O X X O + | | 1,875.00 1,850.00 | X O X | 2 X O X O + | | 1,850.00 1,825.00 | X O X | O X O X O X + | | 1,825.00 1,800.00 | X O | O X O 3 O X O + | | 1,800.00 1,775.00 | X X | O O X 4 X O + | | 1,775.00 1,750.00 | X X O X | O X O X O X + | | 1,750.00 1,725.00 | X O X O B | + O X O O X O + | | 1,725.00 1,700.00 | X O X O X | + O O X O + | | 1,700.00 1,675.00 | X O X O X |+ O X X O + | | 1,675.00 1,650.00 | X O O +| O X O X O + | | 1,650.00 1,625.00 | X X + | 5 X O X O + | | 1,625.00 1,600.00 | X O X + | O X O O + | | 1,600.00 1,575.00 | X O X + | O 6 + | | 1,575.00 1,550.00 | X O + | O X + | | 1,550.00 1,525.00 | X + | O X O + | | 1,525.00 1,500.00 | A + | O X O + | | 1,500.00 1,475.00 | X + | O X O X + | | 1,475.00 1,450.00 | X + | O O X O X | | 1,450.00 1,425.00 | + | O X O X O X X | | 1,425.00 1,400.00 | | O O X O X X O X O | | 1,400.00 1,375.00 | | 7 X O X O X O X O | | 1,375.00 1,350.00 | | O O X O X O X X O | | 1,350.00 1,325.00 | | O O O X O X O |High| 1,325.00 1,300.00 | | O X O X O | | 1,300.00 1,275.00 | | O X O X 9 | | 1,275.00 1,250.00 | | O X 8 X O |Avg | 1,250.00 1,225.00 | | O X O O | | 1,225.00 1,200.00 | | O O | | 1,200.00 1,175.00 | | O | | 1,175.00< 1,150.00 | | |Low | 1,150.00 1,125.00 | | | | 1,125.00 |