Head and shoulders on the chart?
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A reversal pattern has been built on the top of the S&P500 chart after an impulse wave rise. Now a breaking out is on the way and it should go down forward beside that not to allowed moving above right shoulders.
We are very close to Fed decision so maybe the breaking out is too risky but the rising correction will create the next higher probability juncture.
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We are very close to Fed decision so maybe the breaking out is too risky but the rising correction will create the next higher probability juncture.
Disclaimer
We reserve the right to make changes the content on this analysis at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.
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I expect to see a fourth wave correction till the .382 Fibonacci resistance level. something like this.
Let's see
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