Before I really got into pivots I fooled around with this kind of thing a lot more and it really can work. For example, the SPX weekly chart below shows that the drop from the 5/18/2015 bar high to the 8/24/2015 bar low was roughly matched by the drop from the 11/2/2015 bar high to both 1/18/2016 and 2/8/2016 bar lows. Roughly, because the exact level was 1848 and the low was 1810. Not bad on the weekly close however.

But now this is where things get pretty cool. Doing the same exercise in time on a daily chart gave us a match on 2/9, just 2 trading days off from the low. This is using the actual price low on 8/24. Shifting to the noticeably lower close low on 8/25 brings us to 1 day from the low, but we don't even have to fiddle. Within 2 days is pretty good stuff.

NDX is setting up on something very similar to the upside, with 100% at 4864. Time matches on 9/5, so that would be an interesting area to watch along with AugR1 at 4857.