Possible Head and Shoulder Top in development with SPDR S&P 500 ETF
) on daily chart
. We have all the Ingredients for a Head and Shoulders
Top; Trend Reversal, Prior Trend, Right Shoulder, Neckline and Head. Now we need to see a retest of the neckline followed be a bounce to make a left shoulder. The reversal measurement if today were to peak near 162, the correction would be 145.