Yesterday's big sell off allowed the S&P to close the gap it created back on April 5th, 2021. You can also see that it is right around the mid-line of the 2009+ trading channel. History shows that the mid-line should provide some support and that we may move sideways along this line until market decides if it is going to bounce up or break down.
20 day VWMA and 200 day SMA
20 day VWMA and 200 day SMA
Note
End of day TuesdayNote
Here you can see where it reached down and touched the center line and retreated.Note
For now, the gap has become a strong resistance area.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.