The daily chart of SPX is still quite convincing, in my opinion, of favoring a continued upward trend.
Positives:
1. Moving Averages are still on favorable trajectories.
2. MACD still favorable for continued strength.
3. Consistent trending within a tight channel.
Negatives:
1. Over-extended from the years-long trendline of highs.
2. MACD seems like it may want...
Quick Highlights:
-NIO experienced a double bottom between 3/5/21 and 3/8/21
-Reversal seems to be confirmed by price movement since then
-Has tested and broke through strong support lines
-Bounce off of long-term (1Y) trendline
What to look for:
-A test of the $48.80 support
-50MA to cross the 200MA
