After 2 down weeks, the 
SPY is at an important inflection spot heading into the quarterly earnings for big tech companies. $436 needs to hold in order for this inverse head-and-shoulders pattern to develop. The neckline is at $450-55. In case such a pattern does materialize, the measured move would be to $480 in the coming months. A break below $435, and the yearly lows will most likely be tested
SPY is at an important inflection spot heading into the quarterly earnings for big tech companies. $436 needs to hold in order for this inverse head-and-shoulders pattern to develop. The neckline is at $450-55. In case such a pattern does materialize, the measured move would be to $480 in the coming months. A break below $435, and the yearly lows will most likely be tested
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.