The situation on the long-term chart looks even more pessimistic than in 2008. This is despite the fact that the S & P-500 index itself is trading near a historical maximum.
Like any information, this can also be interpreted in different ways, depending on the subjective views on the market. We like this interpretation (not the forecast!): Although this chart does not tell us anything about possible rollback levels (on a monthly scale minus 10-15%, they are almost invisible), but from the point of view of time, the market is probably closer to a new cyclical minimum than to the maximum and subsequent prolonged fall.