SMT Divergence found.
Wed CPI, Dollar go bearish but SP500 we can see price first push higher but it didn't follow through after taking out the previous swing high, instead it move lower, given a bearish CHoCH and continue to put in new LL. So, the break out here seems more like a fake break out driving retail traders to Long while taking out the BSL above it.
Price Objective: Rounded Bottom
Wed CPI, Dollar go bearish but SP500 we can see price first push higher but it didn't follow through after taking out the previous swing high, instead it move lower, given a bearish CHoCH and continue to put in new LL. So, the break out here seems more like a fake break out driving retail traders to Long while taking out the BSL above it.
Price Objective: Rounded Bottom