-Strong trendline support, the 20 over the 50SMA confirms a bullish trend. The price moves upwards as the candle stick fills the gap in between both. -RSI has support at 45. -Momentum slightly starts to rise. -Volume thins out. All prior to a rally.
To sum it all up.
SP rallies only when volume thins out, candle sticks have filled the gap between 20/50SMA and momentum rises slightly before the RSI hits the 45 area. I also like that we had a small move upwards today with barely any volume, tells me the sellers are about done for now.
This is a textbook bullish setup imo.
Swing trade but will not be holding this for too long. My sell indicator will be when momentum hits the red line.
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Sold out for a small loss, will be keeping an eye on this one.