Just a quick update on the SPX 60 minute and daily charts. The 60 minute charts shows the SPX breaking the neckline on Monday and backtesting the rest of this week. You can see a small red triangle forming just below the neckline. This should be a bearish setup. The neckline is holding as resistance while the little triangle consolidation pattern is forming just below. This is low risk setup to buy one of your favorite short etf”s like SDS.

The daily charts shows the nice H&S top pattern in place with the breakout and backtest to the at 1365 neckline.

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