Chart Patterns and TA

[gfp927z]

The S+P 500 chart has formed a bearish Head + Shoulders over the past six months, and looks like a re-test of the Feb/Mar lows (4150 area) is fast approaching.

A 20% correction from the all time high ~ 4800 (Jan 3) would put the S+P 500 at ~ 3840. Looking at some targets to watch -

4150 (~ Feb/Mar lows)

4000

3840 (20% correction from the all time high Jan 3)

3800 (38.2% Fibonacci retracement)

3500 (50% Fibonacci retracement)



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