For Friday, 4135.75 can contain intraday weakness, above which 4182.25 is likely intraday and able to contain session strength.
Closing today above 4182.25 indicates the targeted 4243.00 - 4260.25 region by the end of next week, where the market can tap out through Q3 and a significant upside continuation point through the balance of the year.
Downside Friday, breaking/opening below 4135.75 allows another test of 4066.50 - 4067.75, able to contain selling through May and above which of the 4243.00 - 4260.25 long-term resistance area remains in 2 - 3 week objective.
On the other hand, closing today below 4066.50 indicates a good high through May, 3924.25 then considered a 3 - 5 week downside objective.
Closing today above 4182.25 indicates the targeted 4243.00 - 4260.25 region by the end of next week, where the market can tap out through Q3 and a significant upside continuation point through the balance of the year.
Downside Friday, breaking/opening below 4135.75 allows another test of 4066.50 - 4067.75, able to contain selling through May and above which of the 4243.00 - 4260.25 long-term resistance area remains in 2 - 3 week objective.
On the other hand, closing today below 4066.50 indicates a good high through May, 3924.25 then considered a 3 - 5 week downside objective.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.