SPX bounce may not be sustainable
$S&P 500(.SPX)$ : We've moved from the upper to lower Bollinger Band in a week, and as anticipated yesterday, any bounce may not be sustainable.
➡️Price action reached oversold levels on the Bollinger Bands and Stochastic, but not the RSI. While similar Bollinger Band breaches have triggered bounces, the key question is: Will the 20DMA reject price upon reaching it, as it did in December 2024?
Is there divergence between RSI and price too? It isn't, because both are moving in the same direction. 30 or lower is oversold for RSI
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