The S&P 500 index has hit a lot of buy stops propelling it higher in recent days. However, is it just forming a head and shoulders pattern on the right shoulder? If you believe this market is overbought (refer stochastic) and overvalued (high PE), then, could a head and shoulders pattern present an ideal short position? You could sell now at the top of the right shoulder or wait for the neckline to break for confirmation. Trump has gone all quiet on trade, is this the calm before the next stormy tweet? Small caps are not confirming the recent rises in the S&P500 and Nasdaq100, a bearish sign. I think this right shoulder is a bull trap, sell into it with a close stop just in case it continues higher. This market has struggled to get above 3000 for a while now, I think it's ripe for a decent decline before this trade war and global slowdown is over.