Head and Shoulders on SPY

Potential head and shoulders on the $SPY. Likely to retrace to 72/89 EMA cloud (red cloud) for a test.

Overall... something is brewing right now and it doesn't look great.

تعليق:

Still potentially valid here. Volume this week is still low fairly low and we are still below that 50 VWAP. We might even see one last rally next week before a potential flush down. I'm staying open-minded here... no conviction on the direction just yet.

تعليق:

Still moving nicely on this one. Likely going to retest that 72/89 EMA that is coming up.

تعليق:

Now testing the 72/89 EMA cloud. This is the real test here. If it fails to hold, we will likely see downside targets of $390 with an extreme of $369.