Why is everyone expecting the head and shoulders pattern to fail, thus delighting bulls and mauling bears? Because it failed last summer, that's why.
And that's a pretty dumb reason to expect failure.
I mean, if people honestly expect everyone to get faked out, wouldn't a true fake-out be for the head and shoulders to fulfill its prediction? After all, "if it's obvious, it's obviously wrong", right? (Tim rolls eyes). I think people are over-thinking this, much like this clip: