First, Im not trying to make predictions. Just observing whats obvious to me on the chart. I dont claim to be right. Make your own judgement. By looking at the attached chart, I have noticed some distinct similiarities in the IWM between 2005 and the current time. In 2005, there was a deep correction lasting 8 months, Jan-August. The drop was 15% and the pop back up was 21%. Then followed a smaller cup or handle like formation. This retraced about 2/3 the height of the previous cup. The duration was about 4 months, Aug-Dec. The drop was 11% and pop was 13%. Then there was a small pullback lasting 4 weeks of 3-4% before an amazing pop to the upside above resistance. The pullback retraced about 1/3 of the height of previous structure. The advance after the breakout was roughly 14% and lasted 5 months until May 2006. In 2006, there was a deep correction lasting 6 months. The drop was 17% and the pop was 25%. Then there was another structure on the chart looking like a smaller cup or handle. The duration was about 2 months. The drop was 9.8% and the pop was 11% The retracement was about 1/2 of the previous cups height. Then we have another pullback that we are currently in right now. The pullback so far is about 3.79% at the intraday low of the IWM. It came within .78% of the 20 day moving average before bouncing. Intraday there was a rough double bottom. So far the pullback has retraced a little over 1/3 of the previous cup. This bottom seems to be solid to me, however, it didnt fully retrace to the middle Bollinger Band or to half the previous cups height which I suspect it might do. In any event, the similiarities between 2005 and the present time are uncanny. The structures, the formations and even the magic RSI indicator seems to be at roughly the same levels. Conclusion- Assuming the IWM can make it over the resistance, we should have 15-16% up room probably lasting 6 months with our next correction in the 3-4th quarters most probably being 9-10% in quality. I expect for the rest of this week for there to be one of two things. 1) Chop-chop to down with a full retracement to the 20 day average at 79.51 and half the previous cups height. OR 2) A breakout to the upside over resistance producing a 6 month 15-16% rally and then a 10% correction.