to reiterate, the key w/ patterns is the fact they give you a line in the sand to make determinations of trends, possible inflection points and overall strength/weakness of the market.
in this case, we have the $NYA (the largest index) doing the EXACT same thing it did in 2008. so, I like to keep it simple – IF the pattern works again THEN we should see weakness and IF it fails (breaks out to the upside) we have a ways to go. Here’s the pattern …
cheers!
Bart