View: spx_5year.png

April 2011 was the tsunami in Japan, followed by Greek protests and  
QE2 ending (b4 twist was announced). It's not a H&ST (to me) unless it breaks w/volume. Merely a consolidation or "rest" and being at new all time highs, one with absolutely no overhead supply. It all comes down to the Fed 8/2/13

In agreement that Fed actions/words will continue to have an excessive influence going forward. But I don't exclude other, non-Fed events from causing sharp setbacks. Even if the market were to 'rest' for several hundred points, it would still be in an overall uptrend. 8/2/13

A huge intraday reversal on volume would be a good start. 8/2/13

Thanks for your comment btw! As a side note, the H&S I drew in was purely a speculative whim on my part just to see how things might play out. 8/2/13