by the letter... "M". (Example, see /ESH0 2/08/2010 @ 6:30am; 7:00am; 7:35am; 8:25am; 8:50am)
A strong impulse, followed by 25-50% pullback, followed by a retouching or eclipsing the left high of the M, and falling back to the base of the M.
This pattern was quite noticeable and frequent during the first and middle stages of Oct 2008 descent. It later morphed into what might be called "the bat signal", where the impulse started slower then quickened to an exponential height at the peaks, ending in a exponential fade.
Beware, if it carves out a larger bat signal, where wings are evident on the left and right side, this is a sure sign of further weakness.
Watch for it to morph into a W or weaker lowercase w or m formation, signaling a potential trend change.
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