S&P 500 closes gap from April 5th, 2021 & at mid-line of channel

May 10, 2022

Yesterday's big sell off allowed the S&P to close the gap it created back on April 5th, 2021. You can also see that it is right around the mid-line of the 2009+ trading channel. History shows that the mid-line should provide some support and that we may move sideways along this line until market decides if it is going to bounce up or break down.

20 day VWMA and 200 day SMA

May 11, 2022

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End of day Tuesday

May 11, 2022

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Here you can see where it reached down and touched the center line and retreated.

May 11, 2022

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For now, the gap has become a strong resistance area.