$SPY - Intermediate inverted H&S

There is an inverted H&S pattern forming, we have to get back down to the level of the left shoulder first. We will see where we go once we get there, but despite all recent events, it might turn out to be a bullish move upward outside of the downward range if it holds the second shoulder around the strong 207 support.

This would also close any previous recent gaps on the downside (as well as on the VXX             on the upside).

Happy trading!
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