Today’s Chart of the Day comes from Yuriy Matso (@yuriymatso). It's a 4-hour candlestick chart of S&P 500 futures year-to-date. Yuriy points out that the S&P 500 has formed a well-defined trading range over the past three months. We bounced exactly where we needed to today at the lower bounds of the range around 4100. This level needs to continue holding in the near term or it could get ugly. However, as long as we're above that level, the next major objective will be the top end of the range around 4600.
Chart of the Day - Thursday, April 28th, 2022
April 28, 2022
