This Whole Week was a Bull Trap

The case for the potential bull trap set up this week-

After the big bounce last Thursday SPYs been getting some volatile relief this week.

I think that it's a big old Bull trap though as it seems SPY is inside of a rising wedge right now.

We ended the day today sitting between the support of the rising wedge and the previous resistance of the falling channel we were trading in before.

I think that tomorrow we fall out of the wedge to fill the gap from Monday and consequently end up back inside the falling channel.


AAPL, MSFT, and AMZN also have a bearish sentiment EOD today going into tomorrow-

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  ^Also Netflix double topped today after its earnings jump and could potentially drop another $10+ tomorrow adding further bearish market sentiment^
  

DXY and VIX have a bullish sentiment EOD today going into tomorrow-

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Index of common inflation expectations, 5-10 years released at 12:00pm est tomorrow
Index of common inflation expectations, 10 year released at 12:00pm est tomorrow

^I expect the market isn't going to favor the inflation expectations^

If I'm wrong about tomorrow and we end up bouncing up to the resistance of the wedge, then I'm still bearish on SPY for next week.