The Nasdaq and Russel aren't even making any kind of right shoulders; just obliterating support levels. The SP500 and Dow will most likely follow suit. Projected move in the SP500 is about 16,000 which is the breakout from the 2000 to 2007 tops, which also is the bottom of the 5 year channel it's in. I hope it gets down there and bounces big. That will be a fantastic long term buy area.
If we get a ripper rally or two in the next 2 weeks, it's going to be a right shoulder IMO on the Nasdaq and Rutx, and most likely the SP500 and Dow. Should be an excellent shorting opportunity if it occurs.
QQQ and IWM are at their potential necklines for a H&S top.