Consolidating triangles are everywhere BUT the DOWT, and it is usually the leader. It is heading down, with lower lows. All this time I too wondered why with oil going so low, the SPY did not react, even the IWM did not react. But the vertical lines are when it tried to, when the world thought, ok we are at a bottom, and we were not. We should have retested after we broke the long term support trend, and headed lower , but we did not. Why not? For oil to find a bottom, the dollar has to reverse, and with all other currencies being devalued out of desparation, the dollar can't help itself but go higher, because we are the last economy in the world market trying to sustain and gain a footing. If you are asking for an oil bottom so you can grab some value energy stocks cheap, be careful what you ask for, you might just get it. Energy stocks are not going anywhere for a long time, and have trouble to work out after this price drop, even if oil does rebound or go sideways from here. But, the result will be dollar weakening, rates rising, inflation sparking, which is what everyone wants right? However, what if EVERY CURRENCY weakens, the US equities correct, and corporations slow down even in the US, then what? World wide contraction. With rates already at zero, etc., etc. kind of depressing don't you think? Euro QE, way too little, way too late. Won't matter, but for a day or two. Deflation is setting in like a dark cold night, and I am getting a chill. No trading tips, just commentary, with a dim forecast I am afraid. IMO.