ES SPX Inv H&S VOID; re-enters -10%; may retest 2 previous lows

25 thg 4, 2022

SPX just voided the Inv H&S as it goes back to negative 10% from top. If the 24 Jan & 24 Feb lows of 4212 & 4100 will not hold, SPX may go down to 3990 (historical ave drawdown of 17%) or worst case up to 3800,at the brink of a bear market (20%).
A brief relief rally may occur soon to correct the oversold condition. As long as 4600 & 4100 do not break, SPX is just whipsawing within trading range with no direction.
Not trading advice