However, based on today’s levels I’m not sure whether price will rise higher than 4621-33
Support as shown"
SPI Weekly and Daily.
Another tight trading day, as the market tries to rise up towards 4664 by Thursday.
Price moved down into support levels and then climbed higher into the close completing the R42 range
As per the S&P Report on the 29th…
Potential 3-4 day rally from this Friday’ and into Next Thursday’s open…
Based on the price action in the S&P 500 last week, there’s an expected 3-day UP move until Wednesday’s close, which will take the SPI back into the February 50% levels @ 4664 by Thursday.
How far the S&P 500 moves on Wednesday will determine how high the SPI will rise this week. If the S&P fails to move beyond 1108-1110, then the SPI will find it hard to rise above the February 50% levels @ 4664.
The key levels will be 4664 along with Thursday’s daily highs @ 4666.
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