Looks pretty much bang on with the Chinese New Year, CME futures rollovers, extremely overbought conditions, Wallstreet accumulation and seasonals. This is a textbook correction pattern and really good buying opportunity all the way down to 8000.

If prices crash to 8000 and the CME futures are halted. The perfect bear trap would a sharp bounce off the lows thus trapping all the shorts to cover when the futures are reopened. Such a move will be absolutely spectacular! Just a hunch and I'll be watching closely.