Patterns, Patterns on the Chart

I have always been fascinated by charts, patterns, and the technical analysts who faithfully believe the chart tells all. For several weeks I have seen various people who believe a drop in the Dow Jones Utility Average is coming. I decided to take a close look myself and here is the picture I painted where there is a small chance a pattern may repeat itself. I wonder if this will come to pass? (Click image for larger size)

2009-12-17-util

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