SPY Bullish Divergence + Inverse Head and Shoulders
Updated
SPY right now is in a volatile time with the rest of the US market. Although many indicators are pointing bearish, I am seeing this potential bullish scenario. The inverse head and shoulders would be a pretty big deal if it comes true. I would probably say a run towards the all-time high could happen. Here is the key: this IH&S is only proved false if we drop below the head which is around 260.
As long as the bullish divergence and the inverse H & S holds, it is looking bullish too me. If it breaks, then things could get ugly so make sure to have some stops in place.
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We also have a bullish triangle formingRelated publications
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