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S&P 500 Analysis for the DAY of Wednesday: March 20, 2024

Hey Trader,

S&P 500 Analysis for the DAY of Wednesday: March 20, 2024

It's time to gear up for another exciting day in the market, and I've got the insights you need to navigate the energy sector like a pro.

So, let's dive right in and uncover the opportunities that Wednesday has in store for us.

Starting off, we're looking at key levels to watch for potential buying and selling opportunities . . .

For Wednesday, keep an eye on the 5297.00 level, which could act as a support zone for buying pressure to persist throughout the week.

However, if we see a dip below this level, we might see prices heading towards the range of 5025.00-5079.00 within the week.

On the flip side, if we manage to close above 5297.00 on Wednesday, it could signal a bullish momentum, with potential targets of 5505.25 over the next 2 - 3 weeks. This could set the stage for further upside potential into May and even into the third quarter.

But what about downside protection?

Well, look out for the 5139.25 level, which could provide support against session weakness.

A close below this level, however, might indicate a move towards the aforementioned range of 5025.00 - 5079.00 within the coming days, possibly influencing selling pressure through April and beyond.

0800 - 1100 ET ... /NQ, /ES, /CL, /GC

Wednesday presents us with a range of potential trading opportunities, with key levels to watch for both buying and selling pressure.

Stay nimble, stay informed, and be ready to capitalize on the market's moves!

Happy Trading,

Anthony Speciale

Speciale Analysis

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