S&P 500 4H LongAn inverse head and shoulders formed, with a right shoulder break of the neckline. Measuring the distance from the head to the neckline, a reasonable target could be found slightly less than this distance applied to the breakout. In addition, long term resistance line can be found to intersect with this potential target zone.
The ADX line looks to be turning upwards after a downward trend, currently at 38.
A Stop Loss zone below the right shoulder would be appropriate.
*Not financial advice*
