The S&P 500 May Retrace

Initially extremely bullish at those lows, this rally has some internal qualities that smack more of a massive short squeeze and mere bear market rally, rather than a genuine bullish rally.

This may begin to retrace off a lower high—even though we're close to a new ATH, I'm doubtful that it can make it.

If this retraces, the initial target will be this trend line.