Deja Vu in S&P 500 and Florida Elections again?

They say “History doesn’t repeat, but sometimes it rhymes!”  This weeks election results are being contested in Florida, similar to what happened in 2000.

In the fall of 2000, the S&P made a nominal new high. Momentum was diverging (creating lower highs) and a bearish-rising wedge was forming. We all know the results once support of the rising wedge took place.

Is the S&P 500 repeating patterns now similar to 2000? This fall the S&P made a nominal new high; momentum is diverging (creating lower highs) and a bearish- rising wedge could be in play.

Will history repeat exactly this year? I doubt it. But, if multi-year rising support does happen to give way, selling pressure could increase similar to 2000.