The Israel TA-100 stock index has had a nice year thus far. After bumping against its 2011 all-time high a couple times in the past 6 months (forming a cup-&-handle), it broke out to new highs. It is now pulling back toward the area of the breakout, perhaps providing an attractive long entry point. Looking back a few more years, however, it can be argued that, combined with the 2007 top, the index may be forming a rising wedge, which has bearish implications once the uptrend breaks.

P.S. Passover greetings to those who are observing.