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.
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