Saturday 30 April 2022

A severely bearish April


The SPX saw a net April decline of -398pts (8.8%) to 4131. This was a decisive bearish monthly settlement back under the 10MA (4471). Momentum was increasingly negative, and should continue to weaken across the spring and into the summer. 

Primary target is the lower monthly bollinger, currently at 3308, but that will probably have risen to the 3500s within June.