US Stock Indexes broke down from head and shoulder neckline

Major US stock market indexes broke down from head and shoulder neckline today.

• S&P 500 H&S top is 1220, neck line is slightly downward tilted at 1042 area, so price target is 1042-(1220-1042) = 864, or 16% lower than today's close 1030
• NASDAQ H&S top is 2512, neck line is slightly upward tilted at 2120 area, so price target is 2120 - (2512-2120) = 1728, or 18% lower than today's close 2109

It is imminent now to take actions to protect your portfolio if you are long stock market.