S&P 500 IndexShort
H&S pattern developing
Updated
Seeing H&S developing and it should play like that given the situation BUT we have a wildcard - namely the FED.
And them saying they are ready to buy ETFs to prop the market, I am not sure it will play out this way
And them saying they are ready to buy ETFs to prop the market, I am not sure it will play out this way
Note
A thing to watch here would be a divergence on the right shoulder bounce. The strength of the divergence may give us a hint on how deep the right shoulder correction would goNote
We had a nice trade today from rejection of the 2887 down to 2855. Looking for continuation to 2830 after consolidation in the 2855 area
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