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UnknownUnicorn924366

S&P 500 4H Long

Long
S&P 500 Index (SP:SPX)  
UnknownUnicorn924366  
SP:SPX   S&P 500 Index
Chart Patterns Technical Indicators Trend Analysis SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) S&P 500 (SPX500) S&P 500 E-Mini Futures sp500index spx500long
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chartpattern indicator trendanalysis spy spx spx500 es1! sp500index spx500long
An inverse head and shoulders formed, with a right shoulder break of the neckline. Measuring the distance from the head to the neckline, a reasonable target could be found slightly less than this distance applied to the breakout. In addition, long term resistance line can be found to intersect with this potential target zone.

The ADX line looks to be turning upwards after a downward trend, currently at 38.

A Stop Loss zone below the right shoulder would be appropriate.

*Not financial advice*
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