Possible inverse head and shoulder forming?
The S&P has finally retraced back to the all-time highs! However, there are quite a few Bearish divergences forming in the chart which leads me to believe a larger correction is coming. This possible correction may lead to a potential inverse head and shoulder pattern which in return is Bullish for the macro trend. If we were to retrace back down to the.618 fib level then rally back to retest all-time highs, we could get a bull break that can take the markets to new highs. For now, we wait and see what happens but the overall macro trend is bullish so far. The recommended course of action is to buy the dips if you're a long term investor or if you want to trade open up a short at current levels and see if the market pulls back. If you like my analysis please leave a like comment and follow will gladly appreciate it :)
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