SPY Fractal

Interesting SPY fractal below, however, the upsloping bottom trend line is not explained.

However, the current predicted move for SPY down to 124 would be a 5% to 6% drop

Orig Chart here
http://www.etf-corner.com/.a/6a010535da87f8970c015432b80ebb970c-pi

K9 version here

And here is the current VOS Chart in large size