S&P 500 DAILY Analysis 4/5/23
For Wednesday, the 4099.25 - 4105.75 area can absorb selling through April, above which 4273.75 - 4272.50 long-term resistance remains a 2 - 3 week objective able to contain buying through Q3.
Upside Wednesday, 4182.25 can contain session strength, while closing above 4182.25 should yield the targeted 4273.75 - 4272.50 region within 3 - 5 days, where the broader market can top out through Q3.
Downside Wednesday, breaking/opening below 4099.25 signals 4073.75 intraday, while closing today below 4099.25 indicates 4024.00 within 2 - 3 days, where the market can place a weekly low, and the area to settle below for signaling another test of 3845.50 - 3871.50 long-term support within 2 - 3 weeks.
Upside Wednesday, 4182.25 can contain session strength, while closing above 4182.25 should yield the targeted 4273.75 - 4272.50 region within 3 - 5 days, where the broader market can top out through Q3.
Downside Wednesday, breaking/opening below 4099.25 signals 4073.75 intraday, while closing today below 4099.25 indicates 4024.00 within 2 - 3 days, where the market can place a weekly low, and the area to settle below for signaling another test of 3845.50 - 3871.50 long-term support within 2 - 3 weeks.
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