SPX: Lacks Conviction, 6784 Support Now Key Resistance

SmartReversals
12-19

$S&P 500(.SPX)$ : Price action lacks conviction considering the intra-day reversal.

The weekly support of $6,784 now holding as resistance in confluence with the 20DMA must be recovered to validate a more compelling bounce.

The fast oscillator, is looking identical to previous bottoms.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2603(ESmain)$

The gap was filled✅, and the candle shows promising indecision.

Be careful being too bearish here.

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