Best of StockTwits Charts: S&P 500 Forming A Head & Shoulders Top
The StockTwits Charts Stream gets filled daily with thousands of stock charts created by the largest real-time trading community in the world. Below are a few notable ones for your perusal:
1. S&P 500 ETF (SPY) - Chief Strategist at T3 Trading Group, Scott Redler, posted the chart below yesterday showing the S&P 500 ETF forming a head and shoulders topping pattern. Very timely. This reversal pattern will confirm on a close below $168.20 and we are trading at 166.30 just less than an hour into today’s session.
Scott also notes a gap near the $166.50 level, which may act as an area of potential support and the index ETF is mulling about those levels as I type.
Keep your gloves up kids.
(See Scott Redler’s original StockTwits post here.)
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