With looming resistance @ 4200, the rally in the S&P 500 paused this past week. After heading higher Monday and Tuesday, the S&P 500 ended slightly down for the week. Capital Inflows trailed Capital Outflows $29.4 Billion to $37.3 Billion on below-average volume. The Advance-Decline Line also fell, but more stocks made new 52-week highs for the week, a win for the bulls. Points of interest are SPX 4000 apex support and 4200 overhead resistance. The market remains in a trading range until one of these battlelines breaks.

Grace and peace my friends,

BUFF DORMEIER, CMT®

Updated: 4/24/2023

Historical references do not assume that any prior market behavior will be duplicated. Past performance does not indicate future results. This material has been prepared by Kingsview Wealth Management, LLC. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for the long term. Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser.