S&P 500 Futures Market, 7/21/23
For Friday, 4611.25 can contain session strength, 4567.50 likely to contain initial selling, while breaking/opening below 4567.50 allows 4493.75 intraday, able to contain session weakness.
Closing below 4493.75 indicates 4456.00 on Monday, where the market can bottom out through next week, and the start of a wide zone of midterm support on a 4369.50 able to absorb selling pressures through August trade.
Upside Friday, pushing/opening above 4611.25 allows 4655.25 intraday, the start of a range of midterm resistance up to 4676.00 able to contain buying through August activity.
Closing below 4493.75 indicates 4456.00 on Monday, where the market can bottom out through next week, and the start of a wide zone of midterm support on a 4369.50 able to absorb selling pressures through August trade.
Upside Friday, pushing/opening above 4611.25 allows 4655.25 intraday, the start of a range of midterm resistance up to 4676.00 able to contain buying through August activity.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
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