No more upside for the market

Key support line just broke.

I was thinking inverse head and shoulders pattern was formed.

I wanted to see some more bullish move.

But after seeing this pattern is all broken.

I admit and stay away from the market or short the position from now on.

Fed watches pce more than cpi.

Since the pce was too high. We have to admit that this market has to go down and Fed might have to raise 50bp in march.

Trade active:

Short the market again

Comment:

This bearish move will last longer

Trade closed manually:

I will close the trade for now and update more. I was thinking this analysis is invalid due to market bounced back remarkable even though pce data was higher than expectations