$SPX Potential Bear Trap is Possible

There is so much negativity about the US and the global markets heading for a recession later this year. I am mostly in cash right now but also added a few long positions in the last couple of weeks to TWLO and BAM. I will be watching the index for more clues. The plan: as long as the S&P500 can defend 3870 lows it is likely we can see a relief rally and some short squeeze towards 4470 near term. Otherwise, more selling pressure could start developing eventually.