S&P 500 4/26/23
For Wednesday, 4130.50 can contain session strength, below which the 4066.50 - 4072.00 long-term support area is likely intraday, able to contain selling well into May activity.
A daily settlement below 4066.50 indicates a good high through May, 3918.00 then considered a 3 - 5 week downside objective.
Upside Wednesday, closing above 4130.50 indicates a good weekly low, 4198.25 then likely by Friday’s close, able to contain daily buying pressures when tested and the point to settle above for yielding the still targeted 4246.50 - 4260.25 long-term resistance area within another full week of activity.
A daily settlement below 4066.50 indicates a good high through May, 3918.00 then considered a 3 - 5 week downside objective.
Upside Wednesday, closing above 4130.50 indicates a good weekly low, 4198.25 then likely by Friday’s close, able to contain daily buying pressures when tested and the point to settle above for yielding the still targeted 4246.50 - 4260.25 long-term resistance area within another full week of activity.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
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