Potential move on the S&P500?

11 apr 2023

With the US CPI due tomorrow and with the latest survey predicting that there is a 71% chance that the next FED rate hike might be another 25bps, I feel there is potential that S&P 500 could move higher in the medium term. The trend line on a daily is looking like a firm support for now and there are 3 of the ribbons moving in parallel which may indicate that the current uptrend is strong. 1st target 4177.20, 2nd potential target 4212.40