SPX Daily Chart: Recovery Tests 20DMA, Bull Trap Risks
$S&P 500(.SPX)$ - Daily Chart:
Solid recovery of the 20DMA, and price closed below 5DMA.
As mentioned at noon, for the bull case I would have liked a red day instead of a green one, but we had the opposite.
5DMA has to be recovered tomorrow, so this move does not end as a bull trap.
I will share a special publication mostly open for everyone later today with further analysis for #SP500 and contextual charts for $iShares Russell 2000 ETF(IWM)$ .
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https://x.com/SmartReversals/status/1815482640457142693
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