The eye of Sauron, or just another level to be broken?

3 EylWe've seen this kind of setup before. Usually these can be rather good topping patterns. Should the US500 fail to break above the black line indicated and go on to print a new all-time high, we would target the black trend line that coincides with the purple support/resistance level. Wait and see... but our call is that we get a proper correction here.