$SPX $QQQ $IWM Gap Fill Signals Potential Squeeze of 2 to 3%

SmartReversals
04-01

Potential squeeze size based on the nearest gaps:

-> $S&P 500(.SPX)$ : +2.1%

-> $Invesco QQQ(QQQ)$ : +2.7%

-> $iShares Russell 2000 ETF(IWM)$ : +3.2%

The conviction with which price crosses intermediate levels and reclaims these gaps will determine the overall strength of the bounce.

:As mentioned this weekend and yesterday, $S&P 500(.SPX)$ oversold conditions were extreme.

Moment of Truth: Price filled the gap and hit the 10DMA, the dominant March trendline. Today’s difference: the candle shows bullish conviction. Next major hurdle: the 200DMA.

Bulls face a monumental task in April:

neutralizing this bearish MACD crossover, a major structural signal that has preceded every bear market, including the Dot-com bubble and the Great Financial Crisis. Crashes in 2020 and 2025 have been rapid solutions.

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