SP500 is up for 4 days continuously, this kind of rally was seen in Dec-2021. SP500 pierced 4500 level with decent spread and volume. As I mentioned in last article, re-testing 4225 level is almost negligible. Last two buying pressure is decreasing, this is evident in the spread and close of the candles. Sellers try to push the price down and every time buyers stepped in, this is bullish condition. Shortening of thrust needs to watched as it exactly happening in the another resistance level 4600, so there is chance of retracing and may re-test 4500 level. Any high spread down bars are potential threat to the bullishness that was created last four days.
Earnings keep next couple of weeks interesting.
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