S&P 500 DAILY Analysis 4/14/23
For Friday, the 4088.50 - 4090.00 area can absorb selling through April, above which 4260.25 - 4276.50 long-term resistance remains a 2 - 3 week objective.
Upside Friday, 4185.50 can contain session strength, while closing above 4185.50 indicates the targeted 4260.25 - 4276.50 by the end of next week, where the broader market can top out through Q3 and the significant upside continuation point through the balance of the year.
Downside Friday, 4152.25 can contain intraday weakness, while breaking/opening below 4152.25 allows 4088.50 - 4090.00 intraday, able to contain selling through April and the point to settle below for indicating 3893.25 long-term support over the following 3 - 5 weeks.
Upside Friday, 4185.50 can contain session strength, while closing above 4185.50 indicates the targeted 4260.25 - 4276.50 by the end of next week, where the broader market can top out through Q3 and the significant upside continuation point through the balance of the year.
Downside Friday, 4152.25 can contain intraday weakness, while breaking/opening below 4152.25 allows 4088.50 - 4090.00 intraday, able to contain selling through April and the point to settle below for indicating 3893.25 long-term support over the following 3 - 5 weeks.
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