Elliot Wave Theory says we could be headed to 95 if we break below this trendline

We've bounced off the drawn trendline during the past few weeks. If we break below this trendline then according to Elliot Wave Theory we could be headed to 95.

But we could also continue to simply grind up the drawn trendline. It's December, a lot of hedge fund/traders might be shutting it down for the rest of the year. So we might have to wait until January for any significant downside move.