chart pattern

this is the xlf today. The way I read it... to start off this is a 5 wave pattern. It's actually the same pattern 3 times... which builds the same pattern, Roughly 3 higher highs(ya, there are only 2), and 2 lows. Which is why I don't trust this has broken down yet, a somewhat similar pattern in Oil....
But, as I read it, this is not a healthy bull pattern, it's bearish. Biggest move being wave 1, then fading moves as it progresses.

currently this move is about to make a lower low....after a lower high.. the fact that it couldn't even complete itself in the 5 wave pattern, goes to show added weakness.

I'm just trying to point out a great chart pattern to keep an eye out for. series of 3 highs, 2 higher lows, the last 2 highs being only slightly higher that each-other.... very ripe for major corrections.

Oil just dropped to a Record cheep 133...

If we can get a move to 130. I think the market would like it.....as it breaks to a lower low and a lower high.

I've ben mentioning the Marine transports... As a trade I think they still have some room to move... I'd also say watch for a second leg down..... but if oil breaks... they will rocket...