The S&P continues to hold yearly support however MACD is fading with RSI neutral.

February saw the S&P lose about 4% in value as markets continued to feel the pressure with inflation woes and interest rate hike fears. Looking at the chart, despite the drop in February, the S&P Continues to hold support dating back to October 2022. Major support for the index now sits between 3,920 and 3,950. A break below this level could see the index fall back to the December consolidation at 3,850. MACD is positive, however, is trending lower, suggesting the rally is yet to catch a bid towards the upside. Higher than-anticipated inflationary numbers from Europe and the USA will likely keep a lid on prices for March. Towards the upside, 4,128 acts as resistance followed by  4,200. For the moment, prices remain rangebound with good support below but tough resistance above - thus providing good potential swing opportunities in both the upside and downside direction.