Weekend Wrap & Monday Dec 6th Chart & Trade Plan

Bulls managed to close *exactly* above the 50dma on Friday in a late session rally. In my last update, I said the bull scenario would feature price entering the 4505 area, possibly quick fake below and rally, and bulls managed to do this. This setup into the close Friday is a fairly classic technical setup for a short-term bounce (and I will explain why - its one of my favorite setups that I trade every single day), but bulls have plenty of work to do to prevent new lows after (chart and plan below)