SPX in the latter stages of Wyckoff Distribution Phase

SPX appears to be in the latter stages of Wyckoff Distribution. I believe we are at the end of phase B and in preparation for phase C. We may or may not get an UTAD. This is a test of the remaining demand. It is also a bull trap—it appears to signal the resumption of the uptrend but in reality is intended to “wrong-foot” uninformed break-out traders. A UTAD allows large interests to mislead the public about the future trend direction and to sell additional shares at elevated prices to such break-out traders and investors before the markdown begins. Any new high will be a GTFO signal for me from here as I believe it's only a matter of when not if we'll enter a recession.

Thanks for reading!