Chart of the Day - Friday, April 14th, 2023

Today’s Chart of the Day was shared by Michael Turvey (@MikeTurvey_TDA) The S&P 500 rose +0.79% this week, marking its highest weekly close in nearly eight months. It actually managed to close above the January/February highs by a single point on a weekly basis but hasn't done so on a daily basis yet. It's continuing to hold above its 10-week (red) and 40-week (blue) moving averages and both have begun to slope higher recently. It still hasn't cracked 4,200 yet, which has been a brick wall of resistance for nearly a year now. Keep an eye on how the index reacts to that key level as earning season ramps up next week.