Swoop6

Bull Trap Or New Bull?

Long
TVC:SPX   S&P 500 Index
Viewing market structure currently it looks like we have formed a potential major low and perhaps a bottom - Currently seeing 2 scenarios here 1. New Bull trend is underway and the bottom is in. 2. the first leg down of a larger correction has completed and we're in the start of a large B wave (I have labelled potential bounce targets) however I do see the possibility of it going a tad higher than our usual fibs circled to form a potential larger trap, If we make new lows off here disregard this idea.
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