S&P 500, 8/2/23
For Wednesday, 4553.75 can contain session weakness, 4654.50 in reach and able to contain session strength.
A daily settlement above 4653.50 signals a test this week of 4685.75 - 4699.00 long-term resistance, able to contain buying into September activity and a significant upside continuation point into later year.
Downside Wednesday, closing below 4553.75 signals 4504.75 within several days, able to contain selling through next week and the point to settle below for yielding 4407.75 longer term support over the same time horizon.
A daily settlement above 4653.50 signals a test this week of 4685.75 - 4699.00 long-term resistance, able to contain buying into September activity and a significant upside continuation point into later year.
Downside Wednesday, closing below 4553.75 signals 4504.75 within several days, able to contain selling through next week and the point to settle below for yielding 4407.75 longer term support over the same time horizon.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
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