Downside ES SPX SPY from Head and Shoulders, as warned

Yesterday, I mentioned a possible complex Head and Shoulders bearish formation that was visible in the 60 minute SPY SPX but harder to see in the ES futures because of the overnite ES trading.

Today, the big red bar occurred right when SPX was breached at 1016. The SPX then declined to a low of 996.28

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".