trading-01

The market is digesting the gains from the previous 2 1/2 days of trading today, but with oil hitting fresh intraday lows today and down 5.3% already, things could get definitely out of hand quickly if the bears take a notion. With that said, this is the pattern on watching on SPX and whether it can break Friday’s Highs. If it does that, the bulls may see another pop higher. 

This is a precarious area for the market right now… digest last week’s gains and move higher from here, or is it the end of a dead cat bounce and back to a retest of 1812? 

spx-inverse head and shoulders pattern

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