We’ll keep an eye on this vehicle in case it tries something sneaky, but the bigger picture — one of dueling impulse legs — hints of yet more consolidation in the weeks ahead. To be sure, the overall look of the chart is bullish for at least the intermediate-term; however, the failure of point ‘B’ to surpass the 76.61 peak recorded four months earlier hints that any breakout from the pennant is destined for mediocrity, not greatness.
