trip.trading

Inverted Shoulder Head Shoulder

FX:SPX500   S&P 500 index of US listed shares
89 0 0
The SPX             forms a classic inverted Shoulder-Head-Shoulder pattern. To finish this pattern, the neckline has to break, close above 2113 and the Target Price becomes 2150.

At this moment I’d rather wait for a good entry for new shorts (if stopped out @ 2113) than chase this market up.

Short term, the SPX             might go up, Nasdaq already broke last high, but to me it seems the risk/return trade off for the next couple of months is in favor of the bears.

Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out