S&P 500, 8/10/23
For Thursday, 4537.75 can contain session strength, below which 4442.25 remains a 3 - 5 day target able to contain selling through September activity, once tested 4701.25 long-term resistance attainable over that time horizon.
A daily settlement below 4442.25 indicates a good high through September trade, 4109.00 then expected over the following 3 - 5 weeks, where the market can bottom out through the balance of the year.
Upside Thursday, pushing/opening above 4537.75 signals 4551.75 intraday, also able to contain session strength and the level to settle above for reversing momentum through next week, 4617.25 then expected within several days, 4701.25 longer-term resistance within 1 - 2 weeks.
A daily settlement below 4442.25 indicates a good high through September trade, 4109.00 then expected over the following 3 - 5 weeks, where the market can bottom out through the balance of the year.
Upside Thursday, pushing/opening above 4537.75 signals 4551.75 intraday, also able to contain session strength and the level to settle above for reversing momentum through next week, 4617.25 then expected within several days, 4701.25 longer-term resistance within 1 - 2 weeks.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
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