Not saying SP will never go lower than recent lows, but long-term chart is looking good. See daily, weekly and monthly below.
Biggest weekly volume in forever was this week. June had the biggest monthly volume in forever. What does this say about the short positions.
Reversal signals emerging on weekly (or should I say strength returning): MACD is touching the signal line for first time since it crossed to downside last year, RSI has nudged above 30, after reaching oversold last month. Stochs are still oversold but have picked themselves up off the floor.
In the short-term, daily chart still has room for further gains.
IMO, DYOR.
