An interesting perspective on fib arcs

Some people think this chart a little bearish.  Okay it is a bit bearish as it implies we are going to have a correction to around dow 7770.  However it is nowhere near my longer term bearish targets, which for the first time I am putting out in a couple of charts.   I have labelled the 5 Primary waves with P1 thru p5 for all you Elliot wave aficionados.  First is the chart with a log scale:

And then just an arithmetic scale

Now that’s bearish!!!