spx500 double head and shoulders

FX:SPX500   S&P 500 Index
289 1 9
see chart. RSI at previous values before last spike down. bottom is building, ready to strengthen.
Doc, not sure what you are saying here. I am not the best technician so it might be obvious to an expert. RSI is ready to strengthen so the head and shoulders will not execute? Looking at the two formations the little bump between the head and right shoulder of the 2015 formation looks similar to the right shoulder you have drawn in. If that is the case (not that history will repeat...) then we should see that down trend line you have get taken out by what will become the real right shoulder. Anyway, love the chart and how you have the events drawn in. Keep it coming!
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