Friday 28 April 2023

Battling upward




The SPX saw a net April gain of +60pts (1.5%) to 4169, settling above the 10MA (3978). Momentum ticked upward for a seventh consecutive month, if remaining on the negative side. 

Whilst the macro and geo-political situations continue to deteriorate, the market currently doesn't care. Things only turn interesting again for the equity bears with a break under 4000. Bulls can seek the 4200s, but it won't be easy to hold them.

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