This a current bear trap that will trap those who are bulls. The bears are coming back.
Definitions get blurred depending on your time timeline. But bulls think the bear market ended in March. If so it would be the shortest bear market ever. But this could be a 10 year bear. We just finished an 11 year bull market.
A bear trap is a technical pattern that occurs when the performance of a stock , index, or other financial instrument incorrectly signals a reversal of a rising price trend. The trap is thus a false reversal of a declining price trend.