There is very little about this market that is easy. In fact this head and shoulders chart pattern is so magnificent that I’m almost skeptical of it ever actually playing out anywhere near its full potential.
Nonetheless it is a massive topping pattern and a darn near perfect one at that.
And with the afternoon selling that we have seen today, it is testing that neckline as we speak. At or below 2042 would be nice, but far greater would be a move back below 2039 – which would break the previous lower-low and undeniably confirm the head and shoulders pattern.
Let me put it in a chart for you!
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