Gary Burton, the .nfa bounced hard with two weekly black candles off the top trendline of your contracting triangle, which would indicate a move back to the lower trendline around 460 area.
Also, there are some negative looking chart patterns on some of the major banks, AXP broke out of a defined channel into the march low and rallied back up into the broken trendline before this big correction, CMB has a long parallel channel with a false breakout in march and a move back down to the bottom of the channel, the rally that topped out the bank index was a gap filling rally right shoulder for a CMB H&S pattern. This pattern looks particularly bearish on CMB.
The other negative is that the bank indexes look like they made a nice basing pattern, that has turned into a false breakout, and a break of the trendline from the march lows.
This sideways pattern from the 98 top could be a bull flag, or a topping pattern, i don't think you can say for sure which way it will break. Thats the question, is this 1994, everybody seems convinced it is, but in 1994 people were extremely bearish at the bottom, look at put/calls and II surveys.
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