Possible inverse cup and handle pattern forming with $SPY
As I'm already short due to the the symmetrical triangle being broken to the downside, this inverse cup and handle pattern may just be strengthening that narrative. If we break the February low, I think the case is set in stone. If you aren't short already, I would recommend waiting to see if we break the low. It could act as support, however the bearish aspects outweigh the bullish in my opinion. Just remember to trade your style! Just throwing the idea out there for anyone on the fence.
Penafian
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