here’s a little fodder for the bears.  i’ve been watching this pattern form in X (US Steel), which can often be used as a proxy to the health of the US economy.  who knows whether or not this will play out but the pattern (bearish pennant continuation, best veiwed on the weekly chart below) sure looks pretty clean to me.  for now, just watching more closely on this daily chart to see if today’s slight breakdown will stick and follow-thru into next week or not.  i’ve marked a couple of key horizontal levels to watch as well.