SPY got rejected at the neckline 281 and currently forming an inverse head and shoulder pattern. Currently, stochastic RSI is in the overbought region. We can expect a pullback to the 270 level and then a reversal from there. Once the neckline is broken upward, we can expect a bull run till the end of December.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.