Potential IH&S for ES?  Looking for a potential pullback after SPX 2000, with USDJPY and interest rates representing at least temporary headwinds.

UPDATE:  11:00 AM

Small scale 1.618 for both ES and SPX.

The IH&S, if we get a pullback, for SPX.  USDJPY is slumping, but stocks are ignoring it at the moment.

UPDATE:  EOD

Save by the bell (and USDJPY.)  Stocks reversed at the aforementioned 1.618, but weren’t allowed to get any momentum going.  Interestingly, this leaves more downside potential.

By retreating to the overnight low, ES formed the neckline of a potential H&S targeting 1985.