Get started
inteist

H&S pattern developing

Short
S&P 500 Index (OANDA:SPX500USD)  
inteist Updated   
OANDA:SPX500USD   S&P 500 Index
Chart Patterns hs SPDR S&P 500 ETF (SPY)
13
3
chartpattern hs spy
Seeing H&S developing and it should play like that given the situation BUT we have a wildcard - namely the FED.
And them saying they are ready to buy ETFs to prop the market, I am not sure it will play out this way
Comment:
A thing to watch here would be a divergence on the right shoulder bounce. The strength of the divergence may give us a hint on how deep the right shoulder correction would go
Comment:
We had a nice trade today from rejection of the 2887 down to 2855. Looking for continuation to 2830 after consolidation in the 2855 area
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.