Carl V bearish pattern

This pattern is from Bulkowski's pattern site.

Carl Vanhaesendonck or Carl V discovered the pattern.

I am seeing them on many major ETFS of USA and also world ETFs such as ACWI.

For the SPY the target is 506.

It is quite an extreme pattern and involves wild swings.

Notable the VIX has a Carl V bullish pattern targeting the 60's.

IF the target is met, the open question is does price fall further down in a more extreme panic...