ORLY had a strong lift through 2015 that topped out in the summer of 2016.  The first signs of weakness can be seen in the summer of 2016, where the market first broke the trend from the end of 2015. The subsequent bounce, lift to new highs, and then the fall off since Jun 2016, appears to be a topping pattern.  The drop from the highs can be bound with a channel, offering potential opportunities both inside and outside the channel s/r's.   Orange highlights not only the break of the channel, but also nearby significant technicals that could also cause a market reaction.  Once these are cleared, the odds increase that the market is on to a new wave / structure.  Orange dashed arrows highlight potential market moves from the break of one technical to the next.  While there is no certainty that previous moves and respected technicals will occur again, we can see that the market has followed them to some degree.  There is a potential for this to continue,, and if it does, offer potential opportunities.