The S&P 500 is in a rising trend channel

The S&P 500 is in a rising trend channel and has done so after bottoming out in early October 2022.
SMA 50, 100 and 200 indicate an ascending trend.
The VIX lies inversely and indicates a falling trend in terms of VIX.
Pivot lines are after a chart that extends over a longer period of time than the shown chart.
There is a poor correlation between the top and bottom of the index and the corresponding top and bottom on volume. This weakens the trend.
OBV rising on it last along with index.
RSI 21 tracks index and was on the verge of oversold at the same time as index is sent down at the roof of the trend.
Oscillator and MA stand one day to one week on purchase and one month on strong purchase.
Consider the index technically positive in the medium term - one to 6 month.

Keep in mind that you need to do your own research and assessment before buying and selling.

Sources: Trading View.

Comment:

Neither Norway nor Sweden have finished raising interest rates, and expectations of a higher interest rate level are longer than previously assumed in the US, the EU, and others. I guess that's the primary reason why share prices have swayed a bit since they peaked in July.
Inflation has moderated in most places, but is not down to 2%.
Growth is low in the EU, but not the US and Japan. China is also struggling with growth.
One can try to adapt their portfolio accordingly, or at least to be diversified.
That's how I see it, others can see it differently.

Technically, the S&P500 is still in an uptrend channel with SMA 50>100>200, but the index is now between SMA 100 and 200. Index tests support around 4320. There's an HS with a object around 4200. It will probably be around the floor of the trend channel if the index comes down now. NOTE! There's not a break down at HS at least yet.

Comment:

Referring to what I wrote yesterday.