S&P 500: Inverse Head and Shoulders Pattern Points to Potential 5,500 Breakout

Nasdaq 100 News

S&P 500: Inverse Head and Shoulders Pattern Points to Potential 5,500 Breakout
S&P 500
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Stocks Analysis by Michael Kramer covering: Nasdaq 100, S&P 500. Read Michael Kramer's latest article on Investing.com

Yesterday was a boring day, and given the amount of overload we will be getting starting today morning, you can’t blame the market for holding in place and trading sideways since Thursday. TheWith the zero gamma level around the 5,520 region and liquidity thinning out, these conditions make it hard to predict what could happen next. The S&P 500 could just as easily rip to the 5,550 level as it could drop to the 5,400 level.

That is pretty much what it seems like has been happening in the future on Sunday night, but at least yesterday, that didn’t pan out very well. Anyway, today starts the data dump and a significant earnings parade, so there’s no point in going on today about a non-event day.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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