Check out this chart. Every time the RSI gets oversold like this, its a short term market bottom. We don’t think this will be an exception.
We expect the SPX to back test the broken 50 EMA at 1944. Negative divergences have been worked off and there seems to be good support at 1902. The last two times SPX broke its 50 EMA, it rallied right back through to new highs.