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SPDR S&P 500 ETF TRUST
Long

Inverse Head and Shoulders

171
As mentioned in the title, a possible INVERSE head in shoulders may be in play. What would need to happen is a price action very close to what I have drawn in red on the right shoulder and a retest of the neckline at around $430 resistance. If we can get these two things, I am confident we will have a breakout and a retest of the $452 resistance and gap fill level (with a brief resistance at $438. I will personally consider longs at $420
Pavley
PG13
Also on:
head_and_shoulderLONGoutbreakshoulderssignalssnp500SPDR S&P 500 ETF (SPY) Supply and DemandSupport and ResistanceTechnical AnalysistrendTrend Lines

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head_and_shoulderLONGoutbreakshoulderssignalssnp500SPDR S&P 500 ETF (SPY) Supply and DemandSupport and ResistanceTechnical AnalysistrendTrend Lines
Pavley
PG13
Also on:

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.