S&P500 Can the 1D MA50 save the day?US 500CAPITALCOM:US500TradingShotThe S&P500 index (SPX) has been trading within a 5-month Channel Up and last Friday's flash crash touched its bottom making a new Higher Low. At the same time, it hit its 1D MA50 (blue trend-line) for the first time May 01 2025. As long as the market keeps closing the daily candles inside the Channel Up, we expect the new Bullish Leg to start and as the shortest ones did within the pattern, target at least the 1.382 Fibonacci extension level at 6850. If a 1D candle closes below the Channel Up though, there are higher probabilities to see a stronger dip to the 1D MA100 (green trend-line) a 6400. On a sidenote, the 1D RSI hit and rebounded on Friday on its Lower Lows trend-line, favoring at the moment a bullish continuation. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇