I'm starting to question this call. It looks like a bullish pennant might be forming. As buylosellhi2012 pointed out, these patterns need confirmation, and the bearish signal has yet to be confirmed. However, the bullish pennant hasn't been confirmed yet either.
I say the next 30 cent move from here (~27.50) will confirm the direction for the next few days. If it crosses 27.80, the pennant will be confirmed and the uptrend will resume. If it crosses 27.20, the pennant will have broken down, and I'd expect the bearish engulfment to be confirmed (by a close below 27) and the pullback I anticipated to proceed.
I tend to agree with the pullback with today's action dropping to 27 and under, failing the 27.50
But doesn't mean longs have to run for exit yet.
But definitely reduce some position and try to come back with larger number of shares.
Hmmm, looks like the yahoo boards ate my repost too, which said: "Actually, I need to amend that. If it goes back to ~27 or a hair below and stabilizes there, it could still be a pennant with a flat bottom. So, a surge above 27.80 from here would confirm a bullish pennant, but it would take a close below 26.80 to confirm the bearish engulfment."
So, nice ambiguous close - nothing confirmed yet. It could still be a pennant. Tomorrow morning is the moment of truth. If it rises above 27.30 (where the upper boundary of the pennant will be in the morning), the uptrend will resume. If it drops 20 cents from today's close, it's heading back to test support at ~24.