Friday consolidated with an inside day, Wednesday showed an outside day up. Monday gave a higher high and higher low as did Tuesday. Thursday showed an outside day up, with an early morning rundown and closing on the high. Friday closed down after an up opening.
Tops only come in one of two ways.
The second is the distributive pattern. All these patterns have one thing in common, they are all volatile. We need to keep in mind that indexes are made up of stocks, so the cause of a sideways movement is stocks going both up and down. So we can view particular cycles that either start at the top of the sideways move or bottom of the sideways move as possible completion cycles in stocks. These would be our normal cycles that we use in all instances, their significance proven by the history of the item being analyzed.