Market going to new highs? I’ll show you what’s going on and how to read it.

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This market is sorta nuts right now with SPY and /ES SPX bouncing out of a bear trap below a key trend line.

Does this mean we’re going back to new ATH’s? I don’t think so. In fact, after the bear trap was released I see this as a bull trap being laid. Lots of signals are telling us this is a short term technical bounce.

Don’t take my word for it, look at the mechanics and if you disagree please comment!

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