April 17, 2023

Volume Analysis | Flash Market Update — 4.17.23

Although the S&P 500 was up slightly for the week (0.79%), S&P 500 Capital-Weighted Inflows took a breather from their massive surge in March.

Capital Weighted Outflows outpaced Inflows $41.25 Billion to $31.3 Billion. Market breadth was up for the week, indicating liquidity may be positively trending.

The next resistance point on the SPX is 4200. Should the market break above this resistance, then the next area of strong supply resides @ 4270-4325 (secondary resistance). Critical support remains at the apex of the former bear flag near 4000. The weak inflows suggest that a pause to refresh might be needed before testing the secondary resistance level.

Grace and peace my friends,


Updated: 4/17/2023
Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser. 
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