If it is part of an ending-diagonal, then it may have a ways left to go, as its channel may take us as low as about 1729 late this week. This would of course give us the slight W1-W4 overlap we want to see on an ending-diagonal. The ending-diagonal is important to us because it is a terminal pattern that brings in a change of trend, i.e. down.
From there, a strong push through November opex and into the following week. McHugh has one of his own "phi mate" turn dates out that way. IIRC, he nailed a few critical inflection points in the 2007-2008 tape with his proprietary turn dates.
Is this the ending-diagonal we are looking for?