$SPY on the past 1 hour have build on my view and understanding a Head and Shoulder pattern, that even my trading colleagues were having trouble seeing. I had some of them saying that they were seeing on a 15 min chart, so I sent them this chart to help illustrate.
So far it is going my way, but equities are pretty much flat. So or they will drop hard suddenly and follow the $SPY as we close the day, or we will finish to look like we will have a nice gap down day tomorrow.
Please keep in mind that tomorrow we will have a half day. Trading will be just up to 1 pm. markets will be closed on Wednesday for July 4th holiday here in the US. And we will resume trading on Thursday.
May you all enjoy the end of your day.
