S&P 500 Stock Market Relief or Bull Trap?

WILL STOCKS CRASH MORE ON COVID19-20 PANDEMIC?

Have to say Stock market rally it is a good thing for people who trading for living.
Looking at current daily price of SPX I can say we going to see resistances on EMA21 and 2750 and 3000 levels.
I lined current price action with channels and trend lines.
We get a sharp V shape near 2300 support.

What will happen if we going to break the uptrend line?
I think this will be opportunity to buy the dip.
Do not forget about global pandemic and what will be with people if stocks start to crash again?
Even if it will be small retracement, or new lows we will face another wave of hysteria.

So now we can start putting some sell orders on stocks and some higher if spx will reach higher resistance zone before fall off uptrend line.

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Kommentera:

Price opened below the uptrend line, so now happening some kind of W shaped bottom.