SPX, Major H-S-Formation To Crucial Reversal!

SP:SPX   S&P 500 Index

Welcome to this analysis about the SPX and the daily timeframe perspectives. In recent times many indices within the market already showed up with precarious pullbacks in the structure that should not be underestimated so also the SPX . As when looking at my chart we can watch there how the Index is forming this major decisive head-shoulder-formation with the left shoulder and the head already completed. Now as the right shoulder develops in the structure this is a likely setup for the completion of this whole formation which will happen when the SPX finally breaks down below the neckline as it is shown in my chart. Such a setup will be the finalization of the whole head-shoulder-formation and the SPX is likely to follow up with a bearish continuation till reaching out to the 4.380 zone from where the situation needs to be elevated again. If the SPX in this case does not hold this level and do not shows up with a reversal in the structure the possibility of a continuation-setup increases in which the SPX will form a bear-flag or similar continuation formation. If this completes a continuation will move on within the bearish-continuation-zone marked in my chart in red. Currently we should not keep these determinations from the desk and be prepared on upcoming volatilities, it will be an important journey ahead.

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"The high destiny of the market is to explicate, rather than to speculate."

Information provided is only educational and should not be used to take action in the markets.

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