SPY Near Done Building Right Shoulder Of H&S Pattern

Published 02/02/2015, 04:04 AM
Updated 07/09/2023, 06:31 AM

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.**

“The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small manageable tasks, and then starting on the first one.” — Mark Twain

Well, not much to say except stocks continue to base so day-trading and trading small and carefully is key until we see stocks begin to act better and it’s only a matter of time until they do. Surviving until then is key.
SPY Daily

SPDR S&P 500 (ARCA:SPY) is near done building the right shoulder of this possible head and shoulders pattern now, which would take us down to 289 to fill the gap from back in October.

A break of 199 is the short level but tight stops are key in case it doesn’t work.

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