S&P 500 Technical Analysis – Down from here to re-test July 2009 lows?

S&P 500 broad market index is likely to continue downtrend and re-test July 2009 lows…

Head & Shoulders Pattern projecting S&P 500 at 870

Chart: Stockcharts.com

Fibonacci Analysis, Descending Triangle & MACD crossover

Chart Source: Stockcharts.com