This would have us going dow to $9200 and turning bullish. With the sentiment of us dropping hard, this seems like a reasonable play. This would also complete the inverse head and shoulders.
Signs point up at this point. 12.7K would be a reasonable first target.
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Rephrasing: It would not complete the inverse H&S but rather be the bottom of the right shoulder.
Additionally, solidly breaching the red trendline would be a very bullish sign.