Saw an article on a short time frame chart, less than 1D, about some kind of reverse H&S forming. So, I pulled up my weekly chart I've been watching since I got short at the 280 level back in Oct. I see a normal H&S forming on the weekly for a while now (since the election run up in 2016, and tax run up in 2017), this rapid bounce being the right shoulder. Long term trend in volume is down, and only spikes on selling. Weekly RSI is still confirming a down trend with strong resistance up in the 280-290 range. The chart on a weekly view looks damn ugly, if you are trying to make a rally case. Maybe the china trade and fed can boost us to a new high after a quick correction (10% or less). No one really knows, but I don't see the tax/admin change catalyst on the horizon. Thus, we'll trade on fundamentals, IMO. Fundamentals are mixed at best right now. If the global data stays weak, and corp earnings get some revisions after Q2...I'm not sure the china trade "deal" will matter. At that point, fundamentals will be quite over priced. Long term normal valuation has us in the 230-250 range...so I think value can only be had south of 240. I didn't flip and buy the 235 for this last bounce. I still believe the best entry will be south of 230. Good luck to all who jumped in at 230-250 - don't forget to take profits, or have a reasonable stop loss (check the book, avoid the heard).