The consumer is tapped out!
Whether it takes a year or 2 for the market to roll over is irrelevant; the first downside target is the bottom of this formation.
As consumer goods - prices - continues to rise, it comes down to choices, Steak vs chicken, food vs clothing, cellular internet service vs cable TV, new car vs putting your kid through college. Hard times are coming; don't wait until the next market crash; don't expect the government to help you... start preparing for it now!
The US government is bankrupt or the powers that be wouldn't be trying to tax the middle class, by passing a bogus health care bill. They've really screwed up this time! "Healthcare is on Death Watch", You can't provide free healthcare for 30 million people without bankrupting the system.
I wasn't looking for the end of the American dream when I started charting... but I'm not going to argue with the charts. The media lies, the politicians lie, but the charts never lie.
