S&P 500 DAILY Analysis 4/11/23
For Tuesday, the 4088.50 - 4096.75 area can absorb selling through April, above which 4265.25 - 4276.50 long-term resistance remains a 2 - 3 week objective able to contain buying through Q3.
Upside Tuesday, 4149.00 can contain intraday strength, beyond which 4186.50 is likely and able to contain session strength.
A settlement today above 4186.50 indicates the targeted 4265.25 - 4276.50 region within 3 - 5 days, where the broader market can top out through Q3.
Downside Tuesday, breaking/opening below 4088.50 signals 4068.00 intraday, able to contain weekly selling pressures and the area to settle below for pivoting the market south into later April, then expecting another test of 3855.00 - 3883.75 long-term support within 2 - 3 weeks.
Upside Tuesday, 4149.00 can contain intraday strength, beyond which 4186.50 is likely and able to contain session strength.
A settlement today above 4186.50 indicates the targeted 4265.25 - 4276.50 region within 3 - 5 days, where the broader market can top out through Q3.
Downside Tuesday, breaking/opening below 4088.50 signals 4068.00 intraday, able to contain weekly selling pressures and the area to settle below for pivoting the market south into later April, then expecting another test of 3855.00 - 3883.75 long-term support within 2 - 3 weeks.
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