SCHW is yet another stock showing a significant topping pattern in place. This one gives more evidence that the future path of prices in the financials sector is lower. This was the one area market participants were hoping would hold up to signify healthy rotation in the market. It becoming increasingly obvious though that this isn't the case and this breakdown adds to that evidence.
The initial target from the breakdown of the pattern is at ~18 and given the number of tests of support before failure (i.e. more people buying stock looking for a rally) I'm expecting this target to be reached quite quickly.