Tuesday 30 April 2024

Provisional rollover



The SPX saw the first net monthly decline since last October, net lower for April by -218pts (4.2%) to 5035. The monthly settlement was above the key 10MA (4714), as the m/t trend remains bullish.

Momentum ticked back lower, if still settling on the high side. S/t bearish into May. M/t bullish from the Oct'2022 low. The latter arguably only changes if a monthly settlement back under the key 10MA, which will be around 4800 as of May 1st.

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