The S&P 500 for the past 5 months has created a series of  “lower weekly closing highs” along line (1).

Last week the S&P might have created a “Doji Star” reversal pattern at (2).

This week a “reversal pattern” could be taking place at (3), just under falling resistance line (1).

The Power of the Pattern would put it this way….This has the potential to be a “dangerous place for a reversal to take place!”

We are in the positive seasonal time of year. For a repeat to take place, the first thing the S&P 500 needs to do, is break above line (1). If it can accomplish this, odds move WAY up that the seasonal trend will take place again this year!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past