worth noting is the large amount of Outside Weekly Candles forming across the world (Germany, France, China, UK, Japan, Brazil and on and on)....Almost all of the top 15 countries are making outside weeks...many of which have candles (wicks) smack up into resistance...these patterns are very noteworthy....my take is that next week should be a rather Swift move lower if these patterns are correct....Japan's is occuring right into the neckline (resistance) of a 3 year H&S pattern breakdown....
It's looking like remaining as short as you can below those "wicks" or last 2-3 days highs is the play...above there and markets would have a lot of upside due to the fact that an inordinate amount of energy by sellers was used to create these patterns...
compliment that with a weekly Doji on SPY....you get a recipe for a very BEARISH set-up
AND look what XME is setting up for....how eerily similar huh? look what happened preceeding the yellow oval in '09
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