$SPY - Inverse Head & Shoulder
Inverse Head & Shoulder on 30 minutes with high volume on Left Shoulder , declining on Head and low volume on Right Shoulder. Neck Line broke on a relatively low volume today though. This can possibly shoot up from here. I do see a bearish divergence on RSI Stoch though. There is a possibility of touching the neckline at $386 zone and then bouncing up to new highs.
Note
There is also a possibility of bouncing to $393 zone and then a pull back to neckline. Anything is possible. Never seen so much uncertainty.
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.