SPX at a Crossroads: Bounce or Bull Trap?

SmartReversals
12-21 20:11

$S&P 500(.SPX)$ : 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.

The bounce on Friday recovered essential levels and the 20DMA. Price action along with the oscillator suggests bullish continuation.

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