U.S. Market
The U.S. market is in a Confirmed Uptrend. On Tuesday April 22, the S&P 500 and the Nasdaq staged follow-through days (FTDs) on the 11th day off April 9 lows. We shifted indices back into a Confirmed Uptrend for the first time since February 27. Indices rose 4.6% and 6.7%, respectively, for the week. Each also managed to close above their 21-DMA (5,415; 16,855), which will now act as immediate support. Indices are attempting to retake March lows and then may face resistance near their declining 50-DMA (5,636; 17,734)