SPY at monthly support line - time for bounce up?

Mar 17, 2020

I hid the moving averages to show a crystal clear image of SPY price and long term support. Granted March is not over yet, but buyers may step in here. I am looking for a bounce, as on many charts the price has just reverted to the 20 SMA or gone below it to cloud or 50sma support. Also see yellow circle showing very low RSI, which has to turn up at some point, and gap between stochastic %D and %K. Often %K moves up to meet %D; if this happens it will reflect the temporary bounce I am referring to.

Mar 21, 2020

Note

Keeping an eye on this, we have to wait until March 31 to see if line holds!