Stocks did dip exactly to our level from yesterday, and bounced as predicted, though admittedly not to the extent we were anticipating. It does appear that the S&P is making an inverse head and shoulders pattern, though recall from our trading program that it is important not to trade this preemptively. I do see stocks making a run for what could be the neckline in our H&S, but there is a vacuum zone below so be careful.

head and shoulders forming

Apparent head and shoulders forming in stocks. Remember not to trade this preemptively. Wait for the pattern to fully form, before trading the breakout.

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