The stock markets are resuing the uptrend, including the S&P 500 (US500), DAX, and Dow Jones (DJI), after experiencing a notable decline earlier in April, with losses exceeding 5%. They have since undergone a bullish reversal, indicating the end of the retreat and a return to a bullish trend, making gains for three days in a row.

S&P 500 Chart Daily – Three Bullish Candlesticks in A Row

The S&P 500 index initially traded in negative territory after relinquishing its gains, but it managed to recover and close in positive territory, up by 0.2%. Throughout the session, the index experienced significant fluctuations, reaching session highs with a gain of almost 20 points and session lows near a key support level from March and last week, around 5058 points.

Buyers were active near this support level, suggesting a potential rotation back to the upside if the support holds. The intraday swings in equities have been challenging to navigate over the past two weeks, driven in part by rising Treasury yields. However, following the close enough 5-year Treasury auction, the index saw a reversal and rose by 30 points from its lows, supported by continuous buying pressure. With upcoming earnings reports from companies like Meta, IBM, Ford, and Chipotle after the bell, volatility is expected to persist in the market.

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S&P 500 Live Chart