Peterson

Peterson

Could see SPY down in the low 200's or worse buy summers end .

Peterson

Will the Divergence on the 240 turn out to be a head fake ?

Peterson

Bears will take the lead shortly .

Peterson

Interesting pattern development lets see what next week brings .

Peterson

On the bright side there will be money to be made on the downside and in a few years it will be time to buy on the cheap to the upside .

Peterson

Just another scenario that could play out .

Peterson

I think there are important unfilled short orders at this area . strong price action coming to a halt shortly if my Bollinger band interpretation is correct .

Peterson

Price has to turn up soon and move to the 10.00 area sell zone before it turns back down to trigger the main buy zone , if this does not happen idea becomes invalid .

Peterson

will have to watch this to see if it plays out . I think the odds favor more downside to come .

Peterson

H&S formation in the making . I personally like angled necklines rather than horizontal ones .

Peterson

Short than long . Pivot point resistance , 0,618 retracement at neckline

Peterson

Also H & S forming , left shoulder and head complete

Peterson

Runs into trend line and .382 resistance .

Peterson

Trend line support at 19.75 my one concern is the double top .

Peterson

My chart is getting cluttered . Keeping it simple morphed .

Peterson

I see price declining shortly .

Peterson

Similar structure going back almost a year and up against lower trend line support .

Peterson Updated 

Based on very similar price action and result last year