The 4066.50 - 4076.50 area can contain selling through April, above which 4250.00 - 4260.25 long-term resistance remains a 2 - 3 week objective able to contain buying through Q3, and a significant upside pivot point through the balance of the year.
A weekly settlement above 4260.25 should mark the resumption of a long-term bull market, anticipating a retest of the 4808.25, January 2022 high by the end of the year, and onto new highs within a full year of activity.
Downside, a weekly settlement back below 4066.50 allows 3911.75 over the next 3 - 5 weeks, able to contain selling into July activity.
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For Monday, 4125.25 can contain session weakness, 4165.75 likely to contain intraday strength, beyond which 4208.75 is attainable intraday and able to contain session strength.
A settlement today above 4208.75 indicates the targeted 4250.00 - 4260.25 within several more days, where the broader market can top out through Q3 and a significant upside continuation point through the balance of the year.
Downside Monday, breaking/opening below 4125.25 allows 4066.50 - 4076.50 intraday, meaningful support able to contain selling into May activity and above which 4250.00 - 4260.25 long-term resistance remains a 2 - 3 week objective.
A weekly settlement above 4260.25 should mark the resumption of a long-term bull market, anticipating a retest of the 4808.25, January 2022 high by the end of the year, and onto new highs within a full year of activity.
Downside, a weekly settlement back below 4066.50 allows 3911.75 over the next 3 - 5 weeks, able to contain selling into July activity.
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For Monday, 4125.25 can contain session weakness, 4165.75 likely to contain intraday strength, beyond which 4208.75 is attainable intraday and able to contain session strength.
A settlement today above 4208.75 indicates the targeted 4250.00 - 4260.25 within several more days, where the broader market can top out through Q3 and a significant upside continuation point through the balance of the year.
Downside Monday, breaking/opening below 4125.25 allows 4066.50 - 4076.50 intraday, meaningful support able to contain selling into May activity and above which 4250.00 - 4260.25 long-term resistance remains a 2 - 3 week objective.
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