It's been a one-way trade in the US stock market since the strong ISM services reading and it's continuing. Last week, I highlighted the possibility of a head-and-shoulders pattern shaping up on the S&P 500 and today's drop adds to the case.
![SPX head and shoulders](https://images.forexlive.com/images/SPX%20head%20and%20shoulders_id_eaebbccb-5a10-4684-9a7b-0f7cfd49f08a_original.jpg)
We're still a long ways from breaking the neckline but I suspect the complacency in this market could quickly turn to angst.