Symetric Heads and Shoulders Pattern on $SPY 1hState Street SPDR S&P 500 ETFBATS:SPYDegenTrades88SPY is starting to form a heads and shoulders pattern on the hourly time. If the pattern plays out (neckline break) I would expect SPY to fall to the 0.5 fib level around $753. In addition the the visible heads and shoulders pattern, the daily chart had a bearish macd crossover.