Did the S&P 500 make a head fake and trapped the bears last week, or the real head fake is yet to come? The S&P 500 also did something extraordinary last week. We will analyze the S&P 500 using technical analysis to check out the price actions and review the stock market internals and sentiments to see what the stock market and the S&P 500 is telling us. We will also analyze the S&P 500 ETF, the SPY.