I have been writing for the past 3 months, that I was looking for a market top around March 16th , at Yearly R1 pivot point. Thats exactly what happened(see chart above). We now have a head and shoulders topping pattern at the Yearly R1 pivot point on the Dow Jones. I'm looking for a 500-1000 point drop or more. We should see the lows of the Year around Dec 22, 2012. Head and shoulder patterns are the most powerful reversal patterns and there very fast mover's. If we take out the March lows, look out below.