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April 9 S&P 500 Update – Slightly Bullish Price Action Below the White Resistance Line

Written By: ChartChamp

April 9, 2024

$SPY is showing some slightly bullish price action below the white resistance line. There is still some room for SPY to trend up, the white resistance line gives a price target around $521.90, and this target will continue to increase since the trendline is sloped upwards. I think traders are on the sidelines still, waiting for the inflation data to be released tomorrow and Thursday. Rumors are we could get better than expected data that leads to a pump.

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