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HomeTrading FocusedTechnical OutlookS&P500 Technical Outlook For April 26

S&P500 Technical Outlook For April 26

S&P 500

Great come by bulls after breaking 5000 levels today, is 5100 tomorrow?

S&P500 Trend Analysis – SPX (EoD) Chart

Today we have big sell off GDP number in morning and 10 year bond yield shoot over 4.7.

After market earning from MSFT and Google fueled the future rally and now trading 40 points higher.

Hourly trend is strong now.

Now 5070 may act good support and 5100 is good resistance. swing high and lows are 5120 and 5040.

In my view tomorrow we may close above 5100 if bond yield drop a bit or stay in same area. We need keep eye PCE data which can either fuel the rally or bring the spx back to lower levels.

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