Double bottoms at 1394.40 looks in the forming. Buy signal officially triggered.
1395 has been respected for almost 3 hours, it is almost buy signal triggered for me.
Can we explain the deep of the yesterday's pullback as "Fed dashes stimulus hopes"?
No! I would better link it to the high volatility of April. If I got a better awareness of this, I would have given bears more credit than I did. I propose that I will do it differently for the rest of April.
For today, I expect that [1395.00 - 1397.30] will represent a strong support zone for bulls because it is the confluence of 3 rising trend lines: Medium, short and shorter terms.
If the index can make a bounce, my favorite bullish scenario is that price could be confined by the slightly-rising channel (yellow lines).
If [1395.00 - 1397.30] support zone fails, bears may target 1391.20.