As you can see above, depicted on a nice NYSE monthly chart by Chris Kimble, the market is facing an important test of support (demand).
“The four most dangerous words in investing are, ‘This time it’s different.’”
— Sir John Templeton
In trading, it’s especially important to keep your emotions out of it and trade what you see. Make a plan and use it. Have the flexibility to listen to the message of the market, even if it’s not what you were expecting.
There is only probability, never certainty; but, indeed, patterns can be powerful.