SPY bearish scenario over the next two days
We may be in a head and shoulders pattern. There is tapering in the algorithmic pattern that indicates we could see a retracement into the upcoming Fed Powell speech on Thursday.
Note
We are still in this orange pattern. In order for the head and shoulders to fail, we need to close above 437 at the end of the day. Probably more like 437.50.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.