Replies to post #168764 on SPDR S&P 500 (SPY)

[temp luvs amy]

The classic bull trap involves making a new high, then tracing 50% of the move from the range low. If 208.86 was considered the range low, ie. 3 day range, then the bull trap is already manifested.

If one widens the range to 7 days (or 4), the next low comes into view.

[Oddlot]

The TL from 202.18 across the lows then to now shows a break this AM at approx 209.50.
Oddlot