Andrew's Pitchfork!

I am going to attempt to use a study I have not used before.  I used this site to understand how to set up the fork.  http://help.geckosoftware.com/40manual/new/advchart_tools/andrews_pitch/andrew_pitchfork.htm

From the last move corrective move in the S&P an ABC can be drawn, then the fork is setup providing another reason why until we get back up and over that bottom Pitchfork line it would be hard to be bullish in the long term.  In the theory site i posted the last picture at the bottom shows projections, which are identical channels that are mapped out below the current channels that are drawn.  If the S&P bounces off the lower line again it would be safe to say we entered that new channel for at least a test of the bottom of the new channel.  

I have added now a down channel of andrews pitchfork, to the drawing as you can see the push today stopped at almost exactly on to what is draw out, so a close above the new down channel would mean a possible drive up but it will have heavy resistance from the lower trend line of the previous pitchfork.

Also note that volume seems like it dropped off when the trading range was in the upper range versus the volume in the lower trading ranges.

I don't really know how to use this study but if i have set if up correctly, it seems to provide some interesting insight.