S&P 500 Analysis, 4/20/23
For Thursday, 4200.75 can contain session strength, 4120.00 attainable intraday and able to contain session weakness.
A settlement today below 4120.00 indicates the 4077.50 - 4081.00 longer-term support area tomorrow, able to contain selling into May activity and above which 4253.50 - 4268.25 long-term resistance remains a 2 - 3 week objective.
Upside Thursday, pushing/opening above 4200.75 signals 4217.75 intraday, while closing above 4200.75 indicates the targeted 4253.50 - 4268.25 within several more days, where the broader market can top out through Q3 and a significant upside continuation point through the balance of the year.
A settlement today below 4120.00 indicates the 4077.50 - 4081.00 longer-term support area tomorrow, able to contain selling into May activity and above which 4253.50 - 4268.25 long-term resistance remains a 2 - 3 week objective.
Upside Thursday, pushing/opening above 4200.75 signals 4217.75 intraday, while closing above 4200.75 indicates the targeted 4253.50 - 4268.25 within several more days, where the broader market can top out through Q3 and a significant upside continuation point through the balance of the year.
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