Ultra Short S&P500 SDS chart annotation
If you look closely at January 6th and April 17th you will notice SDS pivots at this level. The way i pivoted on April 17th foretells changing sentiment market wide, considering the S&P500 encompasses the largest swath of stocks. ALSO the lower indicators are indicating oversold signals, in order for it to correct the oscillators it needs to jump around 15 bucks either over a few weeks or one large spike. Also the VIX has kept moving upwards, pulling itself back above its lower support of 40.