Last week’s strong closing candle is coming from a big area with long-term implications. The head-and-shoulders top I’ve been discussing for months had its neckline thoroughly tested after it broke in October. Retests are a common occurrence for these types of patterns before their full bearish potential is realized. In confluence with the neckline is the decisively falling 200-day MA, the underside of the 2011 trendline which was also ...