Not a chartist myself. I've found over nearly 21 years that fundamentals are what really matter - earnings, competitive advantages within companies, interest rates, money supply, unusual events such as activist & institutional activity, geopolitical factors, other economic factors, etc.
If a chart pattern or an emotional overreaction triggers a big selloff when fundamentals are still strong, I go in and buy more usually. The opposite is usually true on the short side. I'll likely short more SHLD soon - especially if it gets back up around the $30 "technical level".
... They're barely hanging on, borrowing every penny they can - much like JCP, but perhaps worse.
I heard a guy on tv a couple of days ago saying we were in year 5 of a 14 year bull market cycle. Just more proof that no one knows for sure.