Head and shoulders forming on $SPY?

6 Mar 2023

After capturing liquidity above $410 I’m extremely short biased as this forms a potential head and shoulders setup this week. I see a broken demand zone that we haven’t retested at $408.25 but I do think bulls can likely retest $410 before a big downside move. If we start to break $410.30 I’ll throw my bearish sentiment out and consider longs. If we confirm this right shoulder we should make a move down quickly towards $395. Will be fun to watch, good luck!