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Short

SPX Showing bearish H&S pattern

INDEX:SPX   S&P 500 Index
spx
SPX             Showing bearish H&S pattern after trend change confirmation from the bullish peak.. A retrace back up to the 0.50 fib level alongside retest of channel and EMA's, should trigger some bearish momentum from a purely technical standpoint.

Fundamentals are also pointing at a possible U.S and global slowdown, so i think this could be a potential play in the weeks to come. The upcoming ISM Manufacturing and Non-Manufacturing reports should provide hints as for the U.S market conditions atleast.
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