Chart of the Day - Monday, April 28, 2025

April 28, 2025
Patrick Dunuwila

Chart of the Day


🏆  Today's Chart of the Day was shared by Andy Moss (@Andy_Moss). 
 

  • The S&P 500 was flat today (+0.06%) as it continues to battle an area of overhead supply from Liberation Day. Andy points out that $SPX is pinched between two key AVWAPs. 
     
  • The upper AVWAP (5,571) is anchored to the February all-time high.
    The lower AVWAP (5,271) is anchored to the April 7th low.
     
  • When two AVWAPs 'pinch'  together in this manner, it suggests that energy is building for a meaningful resolution in either direction. If $SPX reclaims 5,571, momentum will likely shift in favor of the bulls. Conversely, breaking below 5,271 would open the door for a retest of the April low. 
     

The Takeaway: The S&P 500 is digesting its recent gains and building momentum for its next move as it trades within a narrow range between the AVWAP from its all-time high (5,571) and the AVWAP from its recent low (5,271). 

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