Volume Analysis | Flash Market Update — 4.24.23
With looming resistance @ 4200, the rally in the S&P 500 paused this past week. After heading higher Monday and Tuesday, the S&P 500 ended slightly down for the week. Capital Inflows trailed Capital Outflows $29.4 Billion to $37.3 Billion on below-average volume. The Advance-Decline Line also fell, but more stocks made new 52-week highs for the week, a win for the bulls. Points of interest are SPX 4000 apex support and 4200 overhead resistance. The market remains in a trading range until one of these battlelines breaks.
Grace and peace, my friends,
BUFF DORMEIER, CMT®
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