Overbought Consolidation of S&P E-MINI

S&P looks to be repeating the same overbought consolidation that leads to a breakout into the upper band of the BTFD (Buy the Fkn Dip) Channel.

This seems to occur when everyone is expecting a market correction / BTFD opportunity.

Most note worthy was in Aug-Sept 2020 that followed the exact same pattern followed by a 10% correction.