I was thinking any lower than 7350 would greatly decreases the odds of our cup and handle pattern because usually the handle does not go down further than half the height of the cup. However a cup and handle as wella s the double bottom for that matter is not truly invalidated until the price action has dipped well below the bottom of that patter so with are current low of $7263 (which is not all that far from $7350) We still very much have a chance of triggering this cup and this double bottom if we can go upwards from here. You'll notice the price action is currently inside a falling broadening wedge which is inside another falling broadening wedge..those patterns tend to break upwards..Of course we must keep in mind that the head and shoulders pattern we broke down from the other night should have sent us to the 6300s and hasn't reached that price drop target yet meaning there's still a chance that could happen. I hope not because it would essentially invalidate the Adam and eve double bottom we've been following since April if it dipped that far but we must still be prepared if that were to happen. Bulkowski gives the head and shoulders pattern a 55% chance of meeting it's price target so this could also just be one of the times where it is in the 45% and doesn't meet it's target. If so now is a great time to get a discount and add to your position but I would wait until we see the next clear break one way or the other then choose what to do as far as exiting or adding goes. One other positive sign that I think will ultimately bring us up out of this mess is that on the 1day chart(not shown here), the 200MA is finally starting to turn downward and change its trajectory while the 50ma is on it's way up...if the 200ma and 50ma maintain or increase these trajectories we should finally get our golden cross on the 1 day chart within the next 2 weeks which should jumpstart the market again and allow us to climb back up to the adam and eve neckline which currently sits in the 9400s and because of its downward slant, is going to be easier to reach as each day passes. So despite us going below $7350 I'm still confident we can find a way to validate the cup&handle, and the adam and eve double bottom, but also fully prepared if the head and shoulders reaches its projected target. I hope you are too in whatever path you choose, and that choice will be yours alone as this is not financial advice. Best of luck and thanks for reading!