S&P 500 & Roundhill Magnificent Seven ETF: Oversold Bounce, $61.8 Key

SmartReversals
02-21 12:21

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$

Weak price action, but the chart may be interesting for bulls, even for a potential short-term bounce, considering the Stochastic crossover (none invalidated for several months), and the recovery of the 5DMA.

$Roundhill Magnificent Seven ETF(MAGS)$

Most of the bearish move may be in considering the lower Bollinger breached and the oscillator getting oversold in the weekly timeframe.

To keep momentum, this ETF must stay above $61.8 next week. 100 likes 30 reposts to continue tracking this ETF with price levels.

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