The price action on the daily chart in the S&P 500 implies sellers are still in the market but they are slowing down. The possibility that we've gotten low enough to find buyers is showing up in the current structure. However, no reason to be a buyer at current levels we need to see upward price movement to give us an indication that buyers are present.
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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.