Likely H&S Top For S&P 500
Keep your eye on the S&P 500 for the rest of this week. I expect it to trade between 3830-3880 for the next few days, completing the right shoulder. This will likely be ignored or down played while the DJIA makes new all time highs. The NASDQ Comp and 100 are getting a bounce but have definitely topped and are now early on in bear markets.
It isn’t going to take much more upside in S&P to abort any likely H&S. If it breaks out it will confirm the new highs in the DJIA which keeps the overall stock market alive for a while longer?