Chart of the Day - Wednesday, April 7th, 2021

Today’s Chart of the Day was shared by Yuriy Matso (@yuriymatso). It's a 15 min candlestick chart of S&P 500 futures over the past week. This week has been a snoozefest with stocks seeing some of the lightest volumes of the year. As Yuriy points out, S&P 500 futures have been stuck in a narrow range all week between 4050 and 4075. If we're above 4075, the short-term bias is bullish. On the other hand, if we're below 4050, the short-term bias is bearish. We'll likely see price move out of this range very soon so keep an eye on these levels in the remainder of the week.