S&P 500 Index Dead Cat Bounce

Yep Bull trap IMO. Target 2720-2760, ty 4 post!

@DaddySawbucks, My pleasure.

Thanks for the comment. :)

Namaste.

@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.

Annnd we hit the ATH :)

Haha. Another dead trader lol. Keep on dumping it. You will be right one day. Poor guy

SPX is going to ATH...

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?

@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.

@DaddySawbucks, It's going to get ugly.

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?