Weekly-Up, Already?

Nat Gas, AMD, and the S&P.

Technical Edge — 

• NYSE Breadth: 83% Upside Volume 

• Advance/Decline: 81% Advance 

• VIX: ~$19.00

Longs would have liked to see a slightly lower open, given them an opportunity to buy the dip and charge the S&P higher. A gap-up makes that harder. 

S&P 500 — ES 

Nice Globex push, but the 21-day sma and 50% retrace for the 2023 range come into play at ~4067 to make things a bit trickier. 

Above 4067 opens the door to 4100. 

On the downside, initial support is down in the low-4040s. Below that and see if the 10-ema on the 4-hour chart can buoy the ES (shown below)

SPY