Tuesday evening on the “Trade Off” show I did with Chris Weston from Pepperstone, I discussed the setup in the SPDR® S&P 500 (NYSE:).
After the close yesterday, Meta Platforms (NASDAQ:) and the sold off after hours. With the rejection of the 61.8% Fibonacci retracement at the 458 level, if today we end up lower, traders may see a long term head and shoulder pattern develop in the coming months.
The one clue that really stands out is the dropping volume of the strong 8% rally seen in the last few trading sessions.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Read More: Chart Of The Day: SPDR® S&P 500 ETF