SPX - Target Reached & Recovery Possible S&P 500SP:SPXVIAQUANTMy SPX idea from March 10th played out with incredible precision. If you would like to refer back to that idea view it here: Now SPX is at a critical point in the trend. One where bulls could begin to lay the foundation for some form of recovery. Here is how to differentiate between what to expect on the micro versus the macro. On the macro timeframe, a much deeper correction remains the primary expectation. The full breakdown of why can be found in my previous posts. On the daily timeframe, however, some form of relief rally should be expected. There are several reasons for this. First, the measured move breakdown target from the first linked idea has been completed, which could prompt shorts to take profits and bring buyers back into the market. Second, a hidden bullish divergence is forming on the daily RSI with a lower low on the RSI paired with an equal low in price. Third, the daily RSI is approaching oversold conditions, adding further confluence that a short-term bounce is due. Finally, the S&P is trading around its 200 EMA which is a very important MA. Hopefully this brings some clarity on where the S&P currently stands and what to expect on both the micro and macro timeframes.