AMEX:SPY   SPDR S&P 500
56 1 2
H&S formation after being rejected by trendline of a broken long-term ascending channel .
If 198 doesn't hold, we can head down to fill the gap from Oct             at 190.

Related Ideas

Agree, 198.50 is a level. If it holds above that level, then it's likely to form a wedge. If 198.50 doesn't hold, then it could be a head and shoulder breakdown.
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