$SPDR S&P 500 ETF Trust(SPY)$ Interesting Facts: S&P 500 (chart 01) tends to rise the past 6 occasions when it fell more than 3 conservative days to end the year. We had 4 unfavourable days so let’s see if this historical data is still valid. However, anything could happen before Jan 20 if you know what I mean 😉

HEAD & SHOULDERS PATTERN: SPY (chart 02)

A head and shoulders pattern is used in technical analysis. It is a specific chart formation that predicts a bullish-to-bearish trend reversal. The pattern appears as a baseline with three peaks, where the outside two are close in height, and the middle is highest.

The head and shoulders pattern forms when a stock's price rises to a peak and then declines back to the base of the prior up-move. Then, the price rises above the previous peak to form the "head" and then declines back to the original base. Finally, the stock price peaks again at about the level of the first peak of the formation before falling back down.

- A head and shoulders pattern is a technical indicator with a chart pattern of three peaks, where the outer two are close in height, and the middle is the highest.

- A head and shoulders pattern—considered one of the most reliable trend reversal patterns—is a chart formation that predicts a bullish-to-bearish trend reversal.

- An inverse head and shoulders pattern predicts a bearish-to-bullish trend.

- The neckline rests at the support or resistance lines, depending on the pattern direction.

⚠️ 585 remains a strong support for SPY. If it bounces, price needs to break above 603 to invalidate this H&S pattern. Breaking below the neckline is good to short towards 580, 578, 574.5 this week. For more insights, visit https://discord.gg/gmQs9DkA for daily updates to ride the market 🤑