We mentioned this pattern before (Just Saying...see below) and the neck line has broken. If this pattern plays out we could see a visit of the 2012 support area which falls in line with the measured move. It would be a monster move but...Just Saying. ;)
I am expecting a bit of relief rally in this one today. It is oversold on your chart. Perhaps a neckline retest?
OffTheFloorTrader
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I agree Olu...I wrote about the indexes being over sold and to expect a bounce short term. This chart is a Weekly and for this to play out will take a little while with pullbacks. Thanks for the message