S&P 500 Mar 31 to Apr 04 Outlook

Recap
Consolidation week as expected. Flushed to Y-1 and bounced. Failed to hold above Y-0 gave us another chance for the retest. Flushed to close the open gap and bounced. Failed to clear Y-0 and stalled. Closed the week above Y-1 and below midpoint.

Outlook
May I remind you that this was the 4th week inside the same range established from the outside week back in early March. ES has rejected the lower boundary of this range. If ES can reclaim Y-0 and turn that into support, a test of the upper boundary is likely. That lines up with B+2 above.

Should ES challenges B-1 again for whatever reason, it will not likely hold and B-2 is the next support to focus on.