ThomasMagdi

Potential SP500 Reverse Head and Shoulders formation

AMEX:SPY   SPDR S&P 500
46 0 1
snapshot

A potential formation of an SP             500 reverse head and shoulder pattern has occurred as of September 25th. A Descending neckline has formed on points A and B with a head formation on an August 24 low of 1819. A Descending wedge pattern was initiated at neckline point B and is now complete at the right shoulder. Due to the descending wedge upside target, a reversal to point C and above neckline has potential. If the SP             500 closes above the neckline at point C on higher volume , a valid formation of a Reverse Head and shoulders is expected with a significant upside target of 2280. It is recommended that stop losses be placed at or below the neckline.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out