The massive Head and Shoulders pattern is moving through the confirmation process in a manner consistent with patterns on smaller frames. The January 12th back-test of the neckline has resulted in a continuation of the downside move to the Pattern Break Target 35% level, identified and posted on Jan 7th (related item linked below). From here the next pattern is on watch, likely a Bear flag or Pennant will form-up and the moves there with-in will be defined by price-action. The Russia mining news, and the timing, was the catalyst, negating the early Adam and Eve before it reached confirmation, along with the general risk off in equities markets.
