Starting with the , there was really very little buying volume yesterday as the index gained less than 1%. We have a 50-day MA overhead that didn’t offer much support when tested last week, but it could be trickier as resistance.
It was able to register a day of accumulation but will also face an overhead of 50 days of MA resistance. Since the sell-off, the index has taken a position as the leading index in the trio of the Nasdaq and S&P. So bulls can look to this index for buying opportunities.