The future of the SPY hidden in H&S pattern forming?

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SPDR S&P 500 ETF TRUST (AMEX:SPY)

AMEX:SPY SPDR S&P 500 ETF TRUST

Taking a look at the current SPY chart pattern, and a clear H&S pattern is starting to emerge. With a clear break from the ascending pattern today, the SPY looks poised to test the 270.9 - 242.4 area once again. After a test of the old 270.9 support and a relief bounce, will we finally move to the 280 breakout area in late July - August or fall all the way down to April lows of 256 to begin September in a larger H&S formation?

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