S&P 500 is Currently in a Bullish posture in our overall Indication Models
SPY Monthly
Similar to our DIA forecast we see that April is developing an opposite trend signal from that of March. As it stands now it should be a downside Target building up into May which will then reverse the current trend again into the Target of June.
Downside into May and from there Upside into the Target of June.
Expect April to show some higher volatility than that of May as the strong Rally is losing momentum in the short term.
Refer to our Weekly Targets for Potential Inversions.
Weekly
Fortuna’s Strongest Target is that of the week of April 1st. With a trend moving into the Target of April 15th.
This month of April from the weekly perspective appears to be very choppy so Caution Advised.
If a new High is to be made in April as of now it would appear the week of April 1st is our Strongest Target to do so. Considering the week has started strongly downside it doesn’t appear exceedingly the last high is likely to take place.
The next Major Trend that should be taken advantage of is moving from the week of April 22nd to the week of May 6th. Should we see a bounce the week of April 15th forming a temporary high for the month that could then point to a Low forming the week of May 6th before a potential reversal in trend thereafter moving into June.
Daily
A new Trend appears to be in motion. How today of the 3rd closes should dictate the trend into the next Target of April 4th. Should Wednesday the 3rd be an Upside Day expect the 4th to be an Upside Target. Should the 3rd be downside expect a potential Low to form on the 4th.
SPY Quick Summary
Trend moving from March into May and then from May into June. Caution Advised for now. Should we see this month of April close lower than open expect an Early May low and a Sharp Rally thereafter into the Target of June.
Weekly plays seem highly likely following the close of this week. Stay posted for weekly close analysis.
Daily as mentioned above shows immediate trend to watch. The close of today the 3rd will most likely dictate the move into the 4th. Should the 3rd be upside then expect a temporary high to form on the 4th. And should the 3rd be downside then expect a temporary low to form on the 4th.
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