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Fake Out or Breakout?!

We know the MOAT (Mother Of All Trendlines) got broken and has had that "bull breakout" over the last few weeks.

Now we have another trendline that is getting tested after a huge daily move 56 points or 1.6% yesterday.


Few things of note here:

1) There is a gap fill to the downside now.

2) It crossed the 200 EMA and got support off of it for the first time in two weeks.

3) This previous move up has been moving up on consistently lowering volume, comparatively.

I am shorting this right now, I have a 3950 put for 3/31 expiration, but thats a lotto play. This still has room up if it really does break through this trendline.

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