Careful - A pennant flag is nearly finished E-MINI DOW ($5) FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CBOT_MINI:YM1! vanfleetdaniel Usually a pennant flag is a continuation pattern meaning here we should see more buyers. Alas, this one looks a bit weak to me. If it fails I expect another zigzag pattern (Wave W=Y) just like we had from the previous high. If it breaks out upwards then we can use wave X as the projection for the next rally. Better to wait this one out and see where the pennant flag will be break.