This is a pattern seen many times. A new ATH and shallow pullback, a second failed attempt to make the high, and a deeper (ie 10%+) correction. The time of year and macro sentiment is right. 2012 predicts two attempts to break 2885, then a summer fade to 2918 (50% retrace).
Note
Check out the 2016 fractal as well, a bit worse, predicts 2600
David Atherton
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David Atherton
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.