I am very aware of the almost permanent uptrend of SPX. There is what obviously looks to be an inverted head and shoulders that has formed, but the same could be said about GOLD, GBP/JPY, US30 and NAS100. I am looking to take a short before the head and shoulders decides to actually play out since i don't feel like its going to pop yet and there is a possible downward channel forming as well. The combination of the short term downward channel, inverted head and shoulders, and long term upward channel make the possibilities of the trade very dynamic. The MACD is about to turn bearish on the hour so we might see price fall to the 200 MA on the 4hr or the 1 hr which makes me feel like there's going to be a drop soon prior to it going up.
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Took Profit around 3530