SPX “Bull Trapped” All Or Nothing Traders

"markets", Charts, S&P 500

2-9-16 SPX 30min

From David Kennedy

SPX Chart

Notes:  Cup w/handle triggered, capturing T1 & T2 for those scaling.  It may have “bull trapped” all or nothing traders.  Follow the cup handle a H&S (red) construct formed with a smaller H&S (purple) making up the right shoulder of the larger.  Purple H&S ran to full measured move very quickly, now retesting that BO.  The MM target of the larger red H&S is illustrated which I feel has a decently low risk/reward. See chart for detailed notes.

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