The objective of this study is to show the possibility that there is a completed Head and Shoulders pattern with a breakout of the neckline (Figure 1).
The possible corrective projection towards Fibonacci levels is mathematically computable. The only intermediate support is the MM200 daily.
Momentum indicator, with a bearish divergence, confirms.
Also this year, September confirms itself as a month of cyclical setup for the US markets.
Please note that the information provided is not financial advice. It’s important to conduct thorough research and consider consulting with a financial professional before making any investment decisions.