Retraced 1/2 of the COVID drop, now ready to make a big drop

The first drop was 15%, but quickly recovered over 1/2 of the drop (10% gain).

The second drop resulted in 35% below the all-time high. This has since recovered over 1/2 of the drop (30% gain).

There is a very good chance that the market will now fall back down to retest the March 2020 low (20% drop from here).

If that price doesn't hold, then I expect a drop down to 50% from the all-time high.