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Strategies & Market Trends : News Links and Chart Links

SPXL 222.70

+1.6%

4:00 PM EST

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From: Les H	4/18/2023 8:38:18 AM
	of 29600

The S&P 500 Index closed higher by a third of one percent, remaining within the range of resistance between 4100 and 4200. Momentum continues to struggle as investors wait for a catalyst to fuel a break, one way or the other. Major moving averages are gradually developing a positive slope, attempting to move beyond the declining trajectory of the past year. The confluence of major moving averages can be seen between 3950 to 4050, providing a point of short-term support below as the market nears the seasonal transition point from risk-on to risk-off plays. equityclock.com Market still has another 2 weeks in the 35-day trough-to-peak cycle. If it continues to adhere to a 55-day cycle, there should be a minor low in June.

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