SPX has now closed above the 200 DMA for two consecutive days
$S&P 500(.SPX)$ has now closed above the 200 DMA for two consecutive days, breaching both the DMA and Bollinger Bands intra-session.
The 4-hour chart suggests a bottoming formation. However, the 5-day moving average must be surpassed to validate any bounce. Currently, this grey line is acting as solid resistance. Stochastic is oversold.
The 5DMA is still above the 200.
Anyway the 5DMA indicates momentum and very short term trend, the 200 is a very long term trend (about to be broken)
$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$
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