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Good afternoon, traders.
The S&P 500, after breaking above the big head & shoulders pattern’s neckline, had a terrific selloff today that came back to test it from above harshly:
And if we zoom in some, we can see that the selling emerged as SPX was trying to make an attempt to close this open gap:
From here, our job is fairly straightforward:
I continue to play it a day a time for now, not trusting too much one way or another until we get scooting out this range we’ve been in for months.
I hope everyone has a fine evening and I look forward to rivers of bull tears tomorrow (I kid, I kid—sort of).