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S&P 500 Analysis for the DAY of Monday: March 4, 2024

Hey Trader,

S&P 500 Analysis for the DAY of Monday: March 4, 2024

Let's talk about what's brewing in the markets and how we can navigate through the upcoming sessions with confidence and strategy.

In the world of retail trading, having a keen eye on technical analysis can often be the key to unlocking profitable opportunities.

As we gear up for Monday's trading session, one crucial level to keep on your radar is 5094.75. This level holds the potential to contain any session weakness that might come our way. But here's the kicker: if the market manages to stay above this mark, we could see a push towards 5190.50 over the next 2 - 3 days. This level acts as a solid objective and could help sustain buying momentum as we progress into the later part of the week.

Now, picture this: a daily settlement above 5190.50. That's our cue that the market has its sights set on 5360.25 within the next 2 - 3 weeks. It's like paving the road for a potential top-out as we approach April trade.

But of course, we've got to be prepared for the downside too. If Monday sees a break below 5094.75, it could signal a move towards 5070.50. This level isn't just any support; it's a meaningful pivot point that could influence market sentiment into the later part of the week. And if we see a daily settlement below 5070.50, brace yourselves for a potential drop towards 5002.00 within 3 - 5 days. That's just the beginning of a zone of longer-term support stretching down to 4964.25, which could act as a buffer against selling pressure as we move through the year.

So there you have it, folks! Keep these levels in mind as you navigate through the market in the coming days. And if you're looking to hone your trading skills and dive deeper into technical analysis, consider joining me LIVE in the Futures Market daily!

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To your trading success,

Anthony Speciale

Speciale Analysis

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