SPX: A short-term bounce is likely based on the McClellan Oscillator
$S&P 500(.SPX)$ : A short-term bounce is likely based on the McClellan Oscillator.
It reached oversold territory at -70. As highlighted, reading this low can trigger a technical bounce before the downtrend resumes. Will this time be different?
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$SPDR S&P 500 ETF Trust(SPY)$ : A major reversal has been validated by high volume, although the price found some initial support on a thin volume shelf.
The key question is whether this support will be enough to sustain a continued move higher. While the overhead gap may act as a magnet on Monday morning, the broader, healthy market reset still appears incomplete.
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