V bottoms are bull signals that suggest follow through to the up side if driven through resistance. Clearly, that's what we've seen over the past few weeks, but resistance breakthrough is not too strong. Moreover, we are seeing a number of minor pull backs without strong conviction beyond resistance. Fundamentals are key to SPX500 as well, so don't get bogged down in singular signals, but use that as a part of a larger strategy. For instance, stochastic tells us to expect a pull back, but the volatility of this oscillator suggests it could be brief which is the benefit of the stochastic. Finally, I have the Sharpe rolling oscillator which tells you if the asset is outperforming its year to date returns given a risk free 3 month return. As of right now, SPX500 is just barely doing this. Good luck trading out there ladies and gents.
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