sideway movement. where the hell did those two straight lines come from? If my chart is cut through by a line, I will pick up the phone and call the broker with all kinds of profanities. If my chart is cut by two lines, I will call the broker's mother's names. I have done that many times to a cable company (Comcast), a phone company (AT&T), and some other companies that I don't remember.
also known as a broadening top. The daily chart of the NASDAQ composite also has this formation. My TA bible indicates that this is a bearish pattern.