The S&P can continue to remain within a consolidation pattern around the Yearly highs @ 1300 and 1331, influenced by the levels in the Weekly range (White), until the start of April.
Previous Weekly Report
S&P Monthly and Weekly
The Trend bias has resumed its upward trend remaining between 1300 and 1331.
The start of the 2nd Quarter, can now see further gains towards next week’s highs and then the April highs @ 1352+
However, based on the current price action on Friday, there’s the possible short-term reversal pattern of 2-days that could see the market revisit the April 50% level @ 1304.
Trailing support remains the Weekly 50% level @ 1296
In conclusion: - it’s a simple case of being on the right side of 1321.75 for next week
