Skechers (NYSE: SKX), an American footwear company, has had an amazing rally over the past 10 trading days gaining over 20%! Scheduled to report earnings in two weeks, this rally is likely pricing in expectations of an exceptional report, but buyers beware, the chart is telling a different story. If you look at the weekly chart (below), or even the monthly, you'll see what is called a bearish flag pattern. The name is obvious as it looks like an upside down flag. If the pattern does not fail, there is significant downside in the cards for SKX. See my note on the chart for trade entry and targets.