The mkt does look weaker than before. But people still fell in love with last year's rally and afraid of missing the northward train. A big thrust either way would change this situation, either rush out or rush in with money. Nobody really knows.
But H & S 不是顶和底的图形吗?A so-called Major reversal pattern. Basic ingredients for a head and shoulders top:
1. A prior uptrend.
2. ...
From (John Murphy's page 107.)
In your 30 minutes chart, it does not show an uptrend, thus it is not satisfying rule#1.