alanmasters

S&P 500 Index Dead Cat Bounce

Short
SPCFD:SPX   S&P 500 Index
Take a look at the SPX , a bounce is taking place but I don't think it will last long.

This bounce can either start following right away tomorrow, Monday or hit the ATH resistance once more and drop again...

We will see how it develops.

Sell the bounce.

Namaste.

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Comments

Yep Bull trap IMO. Target 2720-2760, ty 4 post!
+2 Reply
alanmasters DaddySawbucks
@DaddySawbucks, My pleasure.

Thanks for the comment. :)

Namaste.
Reply
DaddySawbucks alanmasters
@alanmasters, Tyvm for posting. We got Death Cross in DJT and RUT. Rejected from 0.618 Fibo retrace on this dead cat rally. Pretty strong Bear signals.
Reply
Annnd we hit the ATH :)
Reply
Haha. Another dead trader lol. Keep on dumping it. You will be right one day. Poor guy
Reply
SPX is going to ATH...
Reply
I don't think I would draw a trendline connecting those two points. There is a reason that the price pattern looks very much like a head and shoulders, and I would be thinking about connecting the lows forming the neckline. But what about the rising trend line?

Given that any two points can connect a line, after drawing the neckline, which of its points forming it should be connected to the low from December?
Reply
DaddySawbucks BlakeSaraDad
@BlakeSaraDad, H&S may be illusionary but the rising wedge is clear wherever u draw it, it's nearing the break point. Only time will tell but likely very soon IMO.
Reply
alanmasters DaddySawbucks
@DaddySawbucks, It's going to get ugly.
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I am following the TSX and it did the same thing. On the monthly it looks like a bulll trap,yet on the weekly it reflected off the weekly trend. Thoughts?
Reply
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