SPX500 INDEX (SPY) Short Trade Explained!

hey guys,

the previously discussed 2800 level is still respected by the index and for now, bulls are not able to go through.

on 1H I have noticed a completed head and shoulders formation.
the market is currently in an attempt to break below its neckline.

in case of 1H candle close below the underlined support we can sell the market expecting the continuation to lower levels of structure:
2636.0 - previous support
2536.0 - next support

stop will lie above the right shoulder - 2800.

in case of a bullish reaction from neckline and continuation above the head level our setup will be invalid.