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Word has it Trump is in contact with Jesus to arrange the second coming to assist in blasting up and thru the trend line .
Bearish wedges , rejection at important fib numbers , gaps , resistance , earnings priced in , geopolitical , Trump etc......
H&S within a bear pennant .
Looks like a good probability IMO .
Could see SPY down in the low 200's or worse buy summers end .
Will the Divergence on the 240 turn out to be a head fake ?
Bears will take the lead shortly .
Interesting pattern development lets see what next week brings .
On the bright side there will be money to be made on the downside and in a few years it will be time to buy on the cheap to the upside .
Just another scenario that could play out .
I think there are important unfilled short orders at this area . strong price action coming to a halt shortly if my Bollinger band interpretation is correct .
Price has to turn up soon and move to the 10.00 area sell zone before it turns back down to trigger the main buy zone , if this does not happen idea becomes invalid .
will have to watch this to see if it plays out . I think the odds favor more downside to come .
H&S formation in the making . I personally like angled necklines rather than horizontal ones .
Short than long . Pivot point resistance , 0,618 retracement at neckline
Also H & S forming , left shoulder and head complete
Runs into trend line and .382 resistance .
Trend line support at 19.75 my one concern is the double top .