http://stockcharts.com/c-sc/sc?s=SGR.V&p=60&yr=0&mn=2&dy=0&i=p03379895528&a=159651656&r=3474

Tale of the tape since 4.13

50% retracement of 3.28 (2.43/4.13) is holding. Will it hold next week? Almost impossible to tell

1 - The inverse head and shoulders (December 4 - 7), failed, no volume to break the neckline - Bearish, 3.28 bottom of head, holds

2 - Symmetrical triangle(December 8 - 15), failed - Bearish, with a subsequent volume increase, technical traders selling, 3.28 holds again

3 - Island forms on Decemebr 17th similar to the exhaustion gaps and Island that marked the 4.13 top and led to the selloff - Bearish

4 - An inverse flag has formed with the ultimate support of 3.28 forming a flat bottom with a progressively tight top possibly signalling the sellers are too much for the buyers.

5 - The only bright spot is this should resolve on Monday as we're running out of hours in the trend and if you put yourself in the shoes of the market maker, the technical failures should have shaken most of the traders. It's either going to be a full fledge sell off and shorts will pile on or realising 3.28 won't break, existing shorts will cover and technicians will pile in the bullish revearsal.

Take out the few 3.28 attacks and we have a declining wedge which is BULLISH and this connects all the resistance/support tops/bottoms back to the November 19th meeting line revearsal.