SPY recovered well; closing higher tomorrow could break the downward trend.

First, with the S&P 500 up 1.13% today, that's an excellent performance. As you can see, over the past four trading days, we have touched the horizontal trend line derived from a previous all-time high in June.

This area has been a point of contention, whether we were heading down, up, or down, or even today we have seen an upward gap, then a drop, then a test of this level, then a bounce.

So, this was a good recovery. As I mentioned, it was primarily driven by the decline in 10-year bond yields and US oil prices on the charts.

Tomorrow , the near-term resistance will be the closing gap from September 11. But guys, look at what I see here on the graph, and this is also happening in the first quarter results.

We have this slight dip on the charts, and this single candlestick breaks through the entire trend in one move. So, the improvement for the S&P 500 index tomorrow may come with a higher close than today's candle, which will help it get out of its downward trend. Good movement in the S&P index.