Inverted cup and handles are reliable. thepatternsite.com/icup.html. Money flow trend wanting to dip one more time to the lower trend bottom. And, maybe you cannot see because of the wider view, but bollinger bands had tightened and now beginning to expand, to compete the handle, just as previous. However, as with all things lately, news trumps everything fundamental, and can and will change trends on a dime, at least for a day or two. I was out, but thinking of playing this market short prior to election. Waiting for a nice daily wick candle, but that doesn't have to happen for this drop to occur. safer play is to wait until it goes down and past the neckline/rim level to confirm this move. But the way vix is compressed, and the wait and see election effect (consolidation of the century) any little black swann (and there are many candidates right now) could cause a mass exit of money flow out, and instead of a 5%, we get an 15% or more. It is a nervous market, at least apprehensive, a mixed FED, and other world banks jittery that they have nothing left to effect, looking for a calming force. In fact, if we are to finally have a "GREAT CORRECTION" (yeh I just named it), I think many secretly thinking let's just get on with it and have it over with.
