S&P Blows out 1.618 ext. of March 2020 move. Fake/fake brkout?

I admit I had a gut feeling this 15 day rally was a fake and I set out to look for reasons for a top. Nevertheless, I found something. Yesterdays action (15/04) blew out the 1.618 extension of the march move and hit a resistance (yellow line) which has proven its self in the past. If the breakout of the 1.618 level proves real, my next target is 4600 area, but maybe, it can take a breath before resuming the Minotaur. Momentum suggests the trend is still very solid.

Dagangan aktif:

SP500 may run into a blow out faze to the 4600 target mentioned. Monitor volumes, a rise in volumes coupled with relentless bid may likely signal a top in the market. For now, i'm just raising my stops.