Looking as the chart, we can see that during the last 3 recessionary and correction periods, the volatility, or maximum price swing channel trends, have all grown in size consecutively. In labeled periods 1 and 2, the price channel was large but ultimately broke to the downside culminating in a recession, however the break was much more aggressive in 2008. From 2014 to 2016, the dow experienced a perfect double bottom correction, which caused an even larger initial and total price swing channel because a downside break never occurred. This leads us finally to the period of 2018 to the present, where we can see an initial price swing channel caused by the sell off at the beginning of 2018 that became the largest in history. What was supposed to happen was the double top formation ending with the 2018 december sell off breaking through the initial price swing channel indicating a recessionary period. Howvever the traders who were caught unaware by this sudden and steep sell off couldn't allow it to happen on this scale as it would have wreaked untold economic damage. Through the use of monetary easing and finally restarted QE by the FED, traders were able to bring the major indices out of the grave for one last bull rally which has allowed major institutions and banks to lock in their profits before the inevitable fall and popping of this corporate tax and buy-back bubble. At least they gave the average investor, if they were so lucky as to not drop their holdings in the december sell off, time to realize the inevitable second december sell off to test the previous lows and an eventual break down below that to complete the "Bubble-Head-and-Shoulders", at an average decrease of 45% across equities.