It's easy to understand that traders buy stock when it's lying in oversold zone for a long time ( indicator I show on the chart).
This week, market watches carefully on US data to trade US stock market.
+ Markit PMI
+ Consumer Confidence
+ FED Meeting.
+ US Durable Good Orders.
+ US GDP
With abundant of data, I think this is an important week for SPX .
In my opinion, it will be a nice week for stock. The angry a least is tamed by strong buy in dip force.
FED likely keeps neutral stance, but US GDP, Consumer Confidence, and Markit PMI would provide catalyst for US equity.
I expect SPX will test the strong resistance near 1990 this week, and also tests the of indicator.