There's no comfort in the truth
Pain is all you'll find
--Wham
Am seeing more head-and-shoulders patterns (representative one below) than I've seen in a while.
When this pattern becomes apparent across many stocks/sectors, it's often a sign that the tape is changing its tone.
position in SPX
The head and shoulders pattern is one of the most common reversal formations. It is important to remember that it occurs after an uptrend and usually marks a major trend reversal when complete.
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