Reversal Head and Shoulder?

First attached is the daily chart of S&P 500.  The index has moved up from the downward trend.  This is a very positive sign.

 

Also attached is the weekly chart. The weekly chart also shows the breakout from the downward trend. If the index pulled back from here down to 800, that would be the perfect point to get in . A reversal head and shoulder pattern is forming.

 

I think this is what most money managers are planning. As such, this has been the action of the market.