Weekly head and shoulders pattern has been talked about for some time, and back in February when the market was at its lows, it spent about 1.2 seconds in total below the neckline of the pattern when it touched 1810. 
That time seems like an eternity ago, and now what you have is the possibility of the right shoulder being violated if SPX closes above 2116 for the week.
It did manage to close above that level yesterday, but has pulled back today, putting in doubt whether it is even attainable for SPX to close above that level this week.
What the head and shoulders pattern that has taken two years to form represents is the graveyard of rallies that have attained 2100 prominence, only to quickly fail thereafter.
So here is what you need to be watching for, and whether SPX can break through the right shoulder of this mammoth pattern… but it has to be on the weekly.
