I've been stubborn in my hypothesis that people will "sell the rally" instead of "buying the dip." I see the top of that rally around the historical yearly average of 8% ytd gains which is at 2890. I also looked at most of the previous recessions and they all had a first move down before retracing 78% of that move before heavy selling into the December earnings
Basically on a small timeframe it looks like the red wedge
is breaking down which would yield my desired 2700 target. I think it will all get bought up pretty quick and look like a false breakout thus implying a breakout of the opposite side (up)
White (wedge??) yields my desired upper target, but the two look ugly together. Oh well.