S&P 500 Breaks Out of a Head & Shoulders Continuation Pattern

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On Thursday we wrote that the S&P 500 (SPX) was about to breakout of a H&S bottom pattern. The correct term should be a H&S continuation pattern.
Semantics aside, this is a bullish pattern and the bulls now want to see 1850 (formerly resistance) become support.

 

SPX -

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