S&P 500 Daily Chart Analysis For Week of May 12, 2023

SP:SPX   S&P 500 Index
Technical Analysis and Outlook:
The Spooz had a week of fluctuating and narrow range trading, which indicates that a renewed upward trend is likely to happen next week, intending to reach Key Resistance at 4180 and Outer Index Rally at 4230, as we predicted. However, the current price action may also suggest a drop to Mean Support at 4060.

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