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[AnderL]

first thing I saw was the H&S but its not a strong one.

http://www.recognia.com/reference/patterndescr_hst.htm

first volume isn't there. more volume on the right shoulder than the left shoulder. the downslope on the neckline means a lot of market weakness so if and when the neck breaks it will take a while and more of the move has been made so don't expect a target equal to head minus neckline.

This could be setting up for a bear trap reversal. OEX grinds down below 560 to break the neck and then reverses. That could fuel a good bounce.