Apr. 6 at 3:45 PM
Dead cat bounce or real reversal?
$SPY caught a bid on a DeMARK exhaustion signal — but don't get comfortable.
Bearish chart structure still intact. The macro backdrop (rates, earnings risk, positioning) isn't giving bulls much to work with. DeMARK bounces fade hard when the trend is against you.
Watching
$SPY for confirmation or failure.
$NDX and
$DIA telling the same story. No follow-through = fade the rip.
#SP500 #SPY #TechnicalAnalysis