It's make or break time in the markets cautions Sven Henrick, technical analyst and lead market strategist for Northman Trader. His weekly flurry of trendline charts warn that the major indexes have been compressing in rising wedges that increasingly point to a binary outcome: either a massive new leg up that will result in the market making new all time highs, or a bad breakdown that could waterfall into a 2008-style correction. One high-level chart he tracks closely indicates that if the SP 500 does not soon rise above the blue trendline that began in 2009, a sharp roll-over is highly likely: