Well not sure about the pattern you talked about. But certainly there are patterns between Big bottoms and Big Tops. Note the bottom in April 2005 for the S&P 500 where it shot up to near 1600 in 2007. Now that was a very important bottom. Note the bottom in 2005 was around 1130, just above where we are close to now !
Previous bottoms can be important tops/resistance for the market.
I think we could get a nasty correction if the market does not breakout above 1130 very soon ! Time will tell, better to wait for a downside (below 1020) or upside breakout (above 1130) and trade that (using stops) than just rush in here.

Moh
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