I Hate To Point It Out

But it has just become TOO obvious.

CNBC would chalk this up to a range bound market that is cautious ahead of tomorrows EU summit, I's calling it a bear pennant, which would have the expectation of continued downside, however, these obvious patterns get head-faked 85% of the time (conservatively). Given my earlier market update, unless something changes, I would think the head fake would be to the upside, hitting the gap along the way as mentioned earlier and then a downside move, which of course depends on what happens with the EU, but that's my initial take after seeing so many.