Megaphone or broadening top pattern in SPX. Per literature on the web, occurs in a period of high volatility with the market thrashing in both directions.
Though this pattern has been successfully demonstrated in short time frames (days/weeks), I think we are about to see it in a decade long setting.
The past decade(s) has been nothing if not volatile. If this pattern holds, we are in for a lot of doom and gloom. Does SPX turn around near 1600? Are we in for a few years of stock market decline? Perhaps till the next election?
See for yourself -