Potential Head and Shoulders Projection

Well, the market definitely has the illusion of strength right now. It has been trickling up for 5 days straight on low volume and I do believe it will trickle up some more. If we do have a head and shoulders pattern that will play out, we should see a reversal around the $109.80 price point. I would expect that tomorrow may be choppy to flat. Expect to see the top of the right shoulder tomorrow. Market is closed on Wednesday, so that leaves Thursday as the day to possibly test new highs or breakdown. I am still Short. I expect that Thursday will be the day that I either cover my shorts or watch as the market finally does what I have been expecting it to do. Move down.

SPY chart with potential head and shoulders