S&P 500, after holding the %50 level of the late 2022 run, is making another attempt to break the downtrend. So far the trend holds the advances 5 times already. But now the attempts getting more frequent, and momentum is on the bulls’ side. Even crypto markets that are highly correlated to S&P 500 trying to make a comeback.
Despite the short-term momentum, the trend is a major one, and until broken, the resistance will be a strong one. The trend has become a major topic around the financial markets and because of that traders should be careful of a possible bull trap too.