SPDR S&P 500 (SPY)

[NickXIV]

Obviously this is going to be quite subjective, as this is just a open minded assumption/ hypothesis we'll have to see, but whenever I look at patterns and notice them on a smaller scale, I derive them to the larger to help point an idea maybe to scale to what's going on now. This is also to kinda spark conversation,

If you notice on the smaller scale, we have your base consolidation/reaction at the top, Down-Up-Down, then instead of breaking out and continuing up, it looks like we get marked up/ overbought and then sold off, into a major bottom, well if you derive the smaller pattern and scale it to the much larger picture, it looks pretty similar to what we've done over the last year...

Interested to see everyone's thoughts, and hopefully everyone's primarily on the same page about human behavior is fractal, and scalable, if not read into behavioral economics and such.

Click on the picture to enlarge.