Today's Trading Plan: Head and Shoulders Ready

By Ryan Mallory of SharePlanner

Founder of Share Planner • May 16, 2016 at 11:09 AM EDT

The head and shoulders pattern in the S & P 500 looks set to test the neckline today.

My Trades:

Added one additional short position to the portfolio on Friday.
Did not sell or cover any positions on Friday.
Currently 20% Short / 80% Cash.
Remain short: IWM at $111.29 and one other position.
Will look to add to my shorts if the market can continue breaking down.

Chart for SPX:

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