SPY - Head & Shoulders Forming
Price is forming a head an shoulders on 15M charts signifying the reversal of a short-lived uptrend. There is also a bearish crossover on MACD. Look to enter short on the break of support at 430. PT#1 is $421 where strong demand has previously come in to play and PT#2 is $402. Stoploss is right above entry, i.e. around $431. Rate hike signals at FOMC tomorrow could further push price down.
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