I'm interested in your target price for capitulation. Would you say that the coming high volume capitulation would have us at lower lows?

so that's where we're headed now. bumpy consolidation into a final capitulation event, and then we can finally be done with the craziness of the December crash. however, if the bubble paradigm we've seen so many times before holds we will not see sub $450 and we will likely not see sub $600.