stephenskyle30
Long

SPY Bullish Divergence + Inverse Head and Shoulders

AMEX:SPY   SPDR S&P 500
AMEX:SPY right now is in a volatile time with the rest of the US market. Although many indicators are pointing bearish , I am seeing this potential bullish scenario.

The inverse head and shoulders would be a pretty big deal if it comes true. I would probably say a run towards the all-time high could happen. Here is the key: this IH&S is only proved false if we drop below the head which is around 260.

As long as the bullish divergence and the inverse H & S holds, it is looking bullish too me. If it breaks, then things could get ugly so make sure to have some stops in place.
Comment: We also have a bullish triangle forming

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