informedtrades
Short

Head and Shoulders Topping Formation on S&P 500?

CME:SP1!   S&P 500 Futures
This looks very much like a topping formation to me, especially with the market stalling yesterday before the previous highs (denoted by the "head" on the chart). I'd be interested in selling rallies, with at least a target of 1837, though preferably a much lower target; 1800 and the 200 EMA beneath it may also be viable targets.
Is this still in action? or passed?
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I would consider it valid unless we close above 1880 on the daily chart.
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