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HomeTechnical OutlookS&P500 Technical Outlook For April 16

S&P500 Technical Outlook For April 16

S&P 500

S&P500 Trend Analysis – SPX (EoD) Chart

Market closed almost at lowest point after falling more than 100 points from morning high

Vix has shot up about 50% from recent lows.

Bond yield rise is major negative for stock market.

Hourly and daily trend is down

SPX closed first time below 50 DMA in last 5 months.

Next support zone is around 5030 and 5000 and swing high is 5110.

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