The recent reversal in the SP500 has reminded us of a similar time the charts and reversal felt and looked the same. The above chart is from 2011. As seen the market made an early high of 1335 in February, correcting down to 1241 before rallying back to new highs. New highs were made on what was called the "Bin Laden" high. On the news of his capture, the SP printed the highs for the year at 1373.50 and turned lower to retest the previous 1335 lows made in February. This retest was followed by a "U" shaped reversal that recovered back to where the market failed at 1348 on the 1st of June. This reversal failed to stabilize and push through the highs, leading into what developed the right shoulder for the 2011 head/shoulder top and crash down to 1080 that was fueled by the debt downgrade. QE 2 ended in July 2011, just as QE 3 is expected to end 10/29/14.