Remember those triangles?

From Friday, "More on the Triangles, TICK"

From the post above,

"This is a purposeful or Wall Street created triangle, it's not a random pattern, it's not a consolidation pattern, it was put there and maintained there on purpose.

Look at the TICK Chart. As a reminder, the NYSE TICK chart is advancing issues per tick minus declining issues, usually it trends with the market and typically sees some extremes above + or - 1250.

You can see the triangle clearly in the TICK data, any time the market has seen some momentum on the upside , it has been shut down, the same is true of a recent move on the downside. Note there are very few extreme readings.

Now this could all be part of an options expiration pin, but in the past, those tended to be sloppy, undefined and generally lateral, I don't ever recall seeing a specific price pattern that traders would respond to."

And the market did respond to the triangles, yesterday.

 Of course we still have a full trading day ahead of us, but a move on a close below the apex of these triangles would confirm them as head fake moves. A triangle is the most recognizable technical pattern, in the place they were found, they were considered "bullish continuation patterns" and traders responded accordingly. However a close below the Apex traps all of yesterday's longs at a loss, many have probably already taken a loss. This is the DIA, the yellow area would be the head fake.

 The QQQ and the apex at the red trendline, the yellow area the head fake.

The SPY...