SPY forming a head and shoulders
It looks like our recovery from the previous trip to 450 has painted a head and shoulders pattern. This is pretty bearish.
I added some blue lines stemming from the peak rejections to indicate where we may be headed (450 retest). In the previous case we needed to clear the line and the end the day confidently above it for us to begin a recovery, I expect it will be similar this time.
shoutout to piscitear who spotted this forming yesterday.
This is all my opinion/art project.
I added some blue lines stemming from the peak rejections to indicate where we may be headed (450 retest). In the previous case we needed to clear the line and the end the day confidently above it for us to begin a recovery, I expect it will be similar this time.
shoutout to piscitear who spotted this forming yesterday.
This is all my opinion/art project.
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