Its the moment of truth for PCLN as it’s now doing the backtest to the neckline. This is a low risk entry point if one wanted to buy some put options using the neckline as your line in the sand.

PCLN broke down from a H&S top reversal pattern today. The reasons I’m showing you this stock is so you can see what a real strong uptrend looks like. Note the red bullish rising wedges and a bullish rising flag. They are all pointing up instead of down. In a normal move the little red patterns would point down. This chart says the parabolic move is now over and a hard fast move lower should now develop. APPL also broke down today.