The cash SP500 index continues to move sideways, holding TDST support while the RSI holds the bull market support area. Although I am not quite convinced that the decline has seen its lows, there was a bullish divergence between price and the RSI yesterday morning on the hourly chart.
A good way to continue the rally would be for yesterday's close above the Long (green) moving average to be confirmed. That would point to a test of the other moving averages at the 1335.5 level. I will be watching 1322.93 and 1318.47 early today to see which way we break.
Bottom Line: The allocation mix meter remains at +100%. I am still expecting to see new highs before the April low is violated.
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