\n
VPOC<\/strong>: 6526.25
VVA<\/strong>: 6519.75-6594.50
High-Low<\/strong>: 6517-6647
PP<\/strong>: 6660
Open<\/strong>: 6546.75
Vix<\/strong>: 26.09<\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
Yesterday, the S&P 500 opened at 6629 in a bearish imbalance below the previous day’s value area. Despite two attempts, the price failed to re-enter the value area. Sellers then took control for the entire morning, finishing at the 6580-6585 support level before the US open. <\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
At the US open, buyers attempted to take control by pushing the price back to the previous day’s low of 6616, but they were countered by sellers. From that point on, sellers took control and did not relinquish it for the rest of the day. The price closed around 6525. <\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
In post-market trading, a massive green candle with a long upper wick can be observed, due to Iran’s request for an additional delay. Trump is reportedly suspending strikes until April 6. <\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
This morning, the US index opened in Zone 1 at 6546, just below the 6550-6558 resistance zone. After several attempts, the price broke through this resistance with a strong bullish push. Aggressive sellers tried to counter this move, but the buying pressure was stronger. It remains to be seen if this bullish momentum will continue, especially as the index is once again below its 200-day moving average. <\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
Regarding options, we still have our put wall at 6500, as well as two important levels at 6550 and 6600. On the call side, the largest levels are at 6800 and 7000. <\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
Today, we will have the Michigan Consumer Sentiment Index, which will provide an indication of household morale.<\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
Scenario 1 \ud83d\udfe1: Upon rejection of the 6580-6585 resistance zone, the price could consolidate between this zone and the <\/strong>6500-6520 support zone, which also corresponds to the previous day’s low and VVAL.<\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
Scenario 2 \ud83d\udfe2: Upon a breakout of the 6580-6585<\/strong> resistance zone, the price could move upward to target the previous day’s VVAH at 6594, followed by the 6600-6610<\/strong> resistance zone, and then the previous day’s high at 6647<\/strong>.<\/span><\/p>\n <\/span><\/p>\n<\/div>\n\n
Scenario 3 \ud83d\udd34: Upon a breakdown of the 6500-6520<\/strong> support zone, the price could continue its decline and target the 6445-6460<\/strong> support zone.<\/span><\/p>\n <\/span><\/p>\n<\/div>\n