Okay, looking at the SPY 1-hour time frame it looks to me as though there is a good chance that an inverse head and shoulders pattern will be completed. After a nice bounce back from the low set on Oct. 29th the markets are pulling back today for a variety of reasons. One reason was Apple earnings, another was trade news that came out which the market didn't like, also after a nice bounce the market may have just been ready for a pullback. My feeling is that this will be just a temporary pullback, most likely a couple of days or so then the markets will begin to march higher once again thus completing the right shoulder. I feel the biggest threat to my analysis is if we get additional bad trade news causing the markets to plunge invalidating the inverse head and shoulders pattern.