trading date: April 26, 2017 –
Economic conditions are strong globally. We need this to stay intact because central banks are tightening. As long as activity is robust the market will shoulder future rate hikes. Stocks were able to hold gains throughout the day and that is a positive sign. Earnings season is in high gear and Thursday will be a very important day.
Resistance will lie at yesterday’s high at $238.94, followed by $239.44 and then $240.32.
Support will lie at yesterday’s low at $237.82, followed by $237.29.
SPY daily chart on 1Option Platform