One possible interpretation: I call these types of things cup and handle like patterns where they commonly retrace from the highest lip down to the 61% fib... this one went past that, but still recovered fairly strongly. It could also be considered IHS-like, although it's not coming from a prior downtrend so I tend to trust those less in this context. The "bullshit market" side of me wouldn't be surprised to see this thing head up to the 38.2% or 50% extension. The "justice" side of me of course wants to see it correct. There's no way the Fed is increasing rates... on the same token, I do not believe the market has actually priced in a rate increase as has been alluded to in some media outlets.
INDU at lower TL of megaphone pattern. Not in a rush to put in a double bottom, IMO price will breakdown tomorrow.
Could well be a rally out of the wedge, I am not taking the bait, yet, as I don't see confirmation in MACD's histogram.