📉 S&P 500 Index Performance at Close:

After five consecutive weeks of losses, the S&P 500 index managed to break the downward trend and achieve a notable technical rebound and buying momentum.

• Index Close (April 2): 6,582.69 points.

• Daily Change (Thursday): Increased by +0.11%.

• Total Weekly Performance: The index recorded strong gains of approximately 3.36% over the week.

• Highest Level During the Week: 6,609.67 points (Wednesday session, April 1).

• Lowest Level During the Week: 6,316.91 points (Monday session, March 30).

📈 Session Analysis (Monday to Thursday)

This week saw a dramatic shift in investor sentiment:

1. Monday (March 30): A volatile start leaning towards a decline (-0.39%) due to ongoing geopolitical concerns and rising oil prices to worrying levels (around $102 per barrel).

2. Tuesday (March 31): A major turning point, where the index surged by +2.91% in a strong rally driven by optimism about easing international tensions and portfolio rebalancing at the end of the first quarter.

3. Wednesday (April 1): The index continued its ascent by +0.72% supported by stronger-than-expected ADP employment data and high consumer confidence.

4. Thursday (April 2): A session characterized by caution ahead of the "Good Friday" holiday (where markets were closed on April 3), with the index closing slightly up by +0.11%.

📊Technical Analysis of the Index

📉 General Trend:

• Medium-Term Trend: Bearish / Corrective
• Short-Term Trend: Attempting a Bullish Reversal

📊 Technical Notes:

• The index is still trading below key resistance levels (moving averages)
• Short-term buying signals have appeared after the market reached oversold areas
• General momentum remains weak despite the rebound

🧱Support and Resistance Levels

🟢 Support Levels:

• First Support: 6200 – 6250
• Second Support: 6000 (Strong Pivot Area)

🔴 Resistance Levels:

• First Resistance: 6600 – 6650
• Second Resistance: 6800 (Key Trend Change)

🔑 Market Drivers This Week

1. Economic Data

• Labor Market: Initial unemployment claims came in at 202,000, lower than expectations (212,000), confirming the resilience of the U.S. labor market despite inflationary pressures.

• Consumer Confidence: The consumer confidence index rose to 91.8 points, exceeding analyst estimates (87.5), giving a boost to shares in the consumer discretionary sector.

2. Geopolitical and Energy Landscape

• Pressure on oil prices began to ease relatively towards the end of the week, alleviating concerns about "stagflation."

• Reports of diplomatic pathways in the Middle East (specifically regarding traffic protocols in the Strait of Hormuz) helped calm supply chain concerns.

3. Bond Market

• Yields on 10-year Treasury bonds fell to around 4.30%, down from higher levels last week, providing a "breathing space" for high-market-cap technology and growth stocks.

📉 Technical Outlook

The index successfully returned above the 10-week moving average, a positive signal for technical traders indicating that intense selling pressure has begun to wane; however, the index is still trading about 8-9% below its all-time highs recorded in January 2026, indicating its position in correction territory.

🗓️ What to Watch for Next Week?

With the beginning of April, attention will turn to:

• The monthly jobs report (Non-Farm Payrolls).

• Inflation data (CPI) scheduled for release on April 10.

• The start of the Q1 2026 earnings season.

Note: U.S. financial markets were closed on Friday, April 3, 2026, for a public holiday, hence, Thursday's session was considered the weekly trading close.

✅ Summary

This week represents an important technical rebound but does not signify the end of the bearish trend.
The market is still under the influence of negative factors (inflation + geopolitics)

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