S&P 500 futures low level supply in a trading range — daily market analysis

S&P 500 futures edged up higher as Bank of Japan expands the stimulus package to defend the economic hit by Coronavirus pandemic.

24 Apr 2020 recap —As mentioned previously, after the down wave from 20–21 Apr, which is a change of character stopping the up move to at least a trading range (if not a reversal). There is no excessive supply after the down wave. So far, S&P 500 is able to overcome a few key supply zones and is at the resistance area close to 2885. It is possible for it to test the swing…