Amazinghong

Correction on S&P 500?

Short
OANDA:SPX500USD   S&P 500 Index
From 4 hours chart we are able to see Head and Shoulder Pattern formed and the price face difficulties to create new high. With christmas coming and year end coming soon, expected some players taking profit, key level to watch is whether it will break the neckline around 2255 to 2261 area heavily. If this happen the price might test daily 20MA@2235 (high possibility it will break as no support level can be seen previously) before reach 2210 to 2220 area where previous resistance might test whether can turn to support.
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