Was the SPY's bullish genuine? If so, why did we move so big on such low volume? There's something you're not seeing in the charts and it's key to the mechanics of the modern markets. I posted a video on YouTube to further detail why this move might not be as bullish as it appears. It's a must watch!
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Head & shoulder pattern confirmed, retest of moving averages & neckline appears to confirm negative sentiment intraday. Watch my YouTube video for full details of this chart:
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On the daily time frame, head & shoulder pattern has been confirmed a few days ago. The measured move of the head & shoulder pattern is for a 10% correction. The target price will be in the 191/192 area. I discuss the chart in detail in this video on YouTube www.youtube.com
