SPX - Bull Trap coming to an end
Updated
Looking at the data from the low we can see a closing wedge, and given the reversal of the MAs, plus the continued downward trajectory of the 50 MA, these are strong possibilities 2955 is the ceiling and we're headed back to 2724 in this Bull Trap market. It would be wise to start stacking sandbags, but not the time for shorts unless 2955 is breached due to the 200 MA sitting at 3000.
The true bull run is coming, just not yet.
Good luck and thanks!
The true bull run is coming, just not yet.
Good luck and thanks!
Note
Continuing with the trend, the market looks retest 2724 with a possible pump then dump.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.