Zooming in to the hourly chart, Friday's action reminded me a lot of the action we saw on March 10th (highlighted). Gap up that was faded in the morning to be bought up and close at new highs. This was clearly a bull trap as the market opened lower the next day and sold off all day. The main difference I notice between the 2 days is that Friday's action had relatively large volume into the close, where March 10th did not. It did, however, rally right into multiple resistances, 0.618 from the 2018 meltdown and downtrend resistance. Keeping it very simple, if price is above these 2 resistances, get long. Under the blue trend line, stay short. Inbetween the 2, probably not a bad idea to sit & wait.