Sunday, July 5, 2015

SPY: Was that a Head & Shoulders Top?

Last week, we discussed various bearish possibilities for the U.S. stock indices, including a possible H&S top in SPY.

The following chart shows SPY forming a possible bear flag after the initial decline:

Whatever our interpretation of the current market, remember that our priority is protecting our capital and not making money. There will always be other set-ups to trade.

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