Recent rally seems a bit sus and we’re currently topping out at the 76.
This feels like a bull trap. Usually if it is we’d see price range a while and then a downtrend when it breaks under 61. Usually a 61 retest.
I think the short here is good with stops adobe the previous high.
If we break higher here, 4507 likely to be a big inflection point. Last point for easy bear continuation and if that breaks we need to drop our near term bear bias and reassess. We should not see bulls breaking trending bearish structures if we’re in the move we’re looking for.
Rips should stop around 76.
Trading signal:
Short SPX 4496
Stop 4511
Target 4416