Potential Inverted SHS for SPX

3 de jul. de 2018

On the 15-minute time frame there is a potential Inverted Shoulder-Head-Shoulder forming on the SPX. The height of the pattern is around 40 points to be conservative. If the neck line is broken, I would reasonably expect SPX to move to the 2780-2790 target area by Friday, July 6 2018. This would be retesting the bottom rising trend line in the rising wedge pattern that occurred earlier on the daily time frame. It all depends on various catalysts to move the index to those levels.