This is a pattern seen many times. A new ATH and shallow pullback, a second failed attempt to make the high, and a deeper (ie 10%+) correction. The time of year and macro sentiment is right. 2012 predicts two attempts to break 2885, then a summer fade to 2918 (50% retrace).
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Check out the 2016 fractal as well, a bit worse, predicts 2600
David Atherton
