Adapted from some other charts for the S&P
index, as well as CNBC analyst Todd Gordon, this is a simple play to profit off a possible inverse H&S
pattern in the coming months. If we see a test of the Ichimoku cloud
on this ETF
we can expect a break above the cloud and a possible re-test of all-time highs. This is tricky though, because we are trading below the 200 MA and this pattern looks eerily similar to the H&S
pattern in March 2018, where we were trading above the 200 MA but went down to touch the 200 MA. See link below.
For personal use only, not trading advice.