SPX - Gap filled✅, and oscillators are trying to curl up

SmartReversals
04-23

$S&P 500(.SPX)$ - Gap filled✅, and oscillators are trying to curl up: The move is promising, but technically speaking, the downtrend is intact considering the candle below the 5 and 10 DMA. For any bullish consideration, the grey line has to be conquered tomorrow.

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$SPDR S&P 500 ETF Trust(SPY)$ - The weekly chart provides a clearer view of the volume shelf that offered support. However, a break below $506 would likely lead to $492 imminently.

While the overall setup remains bearish, the low volume observed on the zoomed-in daily chart despite the significant sell-off raises an interesting question: is the selling pressure becoming exhausted?

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