Its at Market Profile acceptance zone (Undervalued) on a .
Market Internals TICK Index and UPVOL and DOWNVOL - Suggests the same reversal
Running behind the price action of SPX , will not be good enough to trade this sophisticated product.
Market Profile/Volume Profile + Market Internals(TICK INDEX + UP/DOWN ) + can help the day trader to be successful.
Efficient Market Hypothesis talks about Price is Subset of + Event/News, So any Event/News can make this analysis wrong.