Directional Bias For The Day:

• S&P Futures are lower
• The odds are for a down day – watch for a break above 4133.25 for a change of sentiments
• No key economic data report due during the day:

Directional Bias Before Open:

Weekly: Uptrend Daily: Uptrend Resumed

120-Min: Up-Side 30-Min: Down-Side 15-Min: Down-Side 6-Min: Down-Side

Key Levels:

• Critical support levels for S&P 500 are 4119.07, 4114.82, and 4107.70
• Critical resistance levels for S&P 500 are 4138.50, 4150.47, and 4164.16
• Key levels for E-mini futures: break above 4132.25, the higher of 7:00 AM and break below 4115.00, the low of 1:30 AM

Pre-Open

• On Tuesday at 4:00 PM, S&P futures (June 2021) closed at 4126.50 and the index closed at 4134.94 – a spread of about -8.50 points; futures closed at 4126.50 for the day; the fair value is +0.00
• Pre-NYSE session open, futures are lower – at 8:00 AM, S&P 500 futures were down by -3.25; Dow by -4, and NASDAQ by -39.00

Markets Around The World

• Markets in the East closed lower – Mumbai was closed for trading
• European markets are higher
• Currencies (from two weeks ago):
  

  Up	Down
  EUR/USD GBP/USD AUD/USD NZD/USD USD/CAD INR/USD	Dollar index USD/JPY USD/CHF

• Commodities (from two weeks ago):
  • Energy futures are higher
  • Precious metals are higher
  • Industrial metals are higher
  • Most soft commodities are mostly higher
• Treasuries (from two weeks ago)
  • 10-years yield closed at 1.562%, down -9.4 basis points from two weeks ago;
  • 30-years is at 2.259%, down -5.7 basis points;
  • 2-years yield is at 0.149%, down -0.8 basis points;
  • The 10-Year-&-2-Year spread is at 1.413, down from 1.499
• VIX
  • At 18.32 @ 7:45 AM; down from the last close; above 5-day SMA;
  • Recent high =  23.55 on March 25; low =  15.38 on April 14
  • Sentiment: Risk-Off-To-Neutral

The trend and patterns on various time frames for S&P 500:

Monthly	Confirmed Uptrend March 2021 was a green candle with a small upper shadow and a lower shadow almost equal to the real body; at all-time closing and intra-month highs; Stochastic %K above %D near 100; RSI-9 near 75; broke above a downtrend line from January 2018 Above the upper band of a 120-month regression channel; The sequence of higher highs and higher lows is resumed
Weekly:	The week ending on April 9 was a green candle with almost no upper and lower shadows; at all-time highs Stochastic (9,1, 3): %K is crossing below %D; near 100 RSI (9) is above 75 The week was up +56.67 or +1.4%; the 5-week ATR is 97.06 An up week; fourth in the last five weeks, and seventh in the last ten weeks The weekly week pivot point=4163.87, R1=4212.91, R2=4240.91; S1=4136.42, S2=4087.93; R1 pivot level was breached Above 10-week EMA, 39-week SMA, and 89-week SMA Uptrend since March 23, 2020
Daily	A red candle with almost no upper shadow and lower shadow two-thirds the size of the real body; a three-day Evening Start pattern at all-time intraday and closing highs Broke above a symmetrical triangle at 3550.00 level on November 9; the 161.8% extension target near 4140.00 levels is achieved %K is below %D; below 50 RSI-9 has declined to just above 60 from 80; below 8-day EMA Above 20-day EMA, 50-day EMA, 100-day, and 200-day SMA Uptrend
2-Hour (E-mini futures)	Drifting sideways to down since 4:00 PM on Friday; sequence of lower-high-lower-lows; within that move another sideways move since 12:00 PM on Tuesday Uptrend since 10:00 AM on March 25; Broke above a down-sloping flag on March 26; the 100% extension target near 4100.00 is achieved; the 161.8% extension target is near 4260.00 RSI-21 has risen from below 30 to above 40 Below EMA20, which is below EMA10 of EMA50 Bias: Up-Side
30-Minute (E-mini futures)	Moving down since 3:30 PM on Friday making lower-highs and lower-lows; bouncing up since 3:00 PM on Tuesday RSI-21 up near/above 50 from below 30 At/above EMA20, which is below EMA10 of EMA50 Bias: Down-Side
15-Minute (E-mini futures)	The Bollinger Band (20, 2.0) is moving sideways to up since 3:30 PM The Bollinger Band is relatively stable but slightly expanded Stochastic (9, 1, 3): %K is below %D since 7:00 AM Bias: Down-Side

Previous Session

Major U.S. indices closed mostly lower on Tuesday, April 20 in higher volume.  Dow Jones Transportation Average closed down.

From Briefing.com:

The S&P 500 declined 0.7% on Tuesday for its second straight decline, as it continued to consolidate its record-setting run. The Dow Jones Industrial Average (-0.8%) and Nasdaq Composite (-0.9%) performed similarly to the benchmark index, while the Russell 2000 struggled with a 2.0% decline. […] Declining issues outpaced advancing issues by a 3:1 margin at the NYSE and Nasdaq. The cyclical energy (-2.7%), financials (-1.8%), and consumer discretionary (-1.2%) sectors underperformed with sharp losses. […] The defensive-oriented utilities (+1.3%), real estate (+1.1%), consumer staples (+0.6%), and health care (+0.4%) sectors finished in positive territory. […] U.S. Treasuries edged higher amid the negative bias in the broader equity market, pushing yields lower. The 2-yr yield decreased one basis point to 0.15%, and the 10-yr yield decreased four basis points to 1.56%. The U.S. Dollar Index increased 0.2% to 91.24. WTI crude futures declined 1.2%, or $0.74, to $62.61/bbl. […] Russell 2000 +10.8% YTD Dow Jones Industrial Average +10.5% YTD S&P 500 +10.1% YTD Nasdaq Composite +7.0% YTD Overseas:  Europe: DAX -1.6%, FTSE -2.0%, CAC -2.1% Asia: Nikkei -2.0%, Hang Seng flat, Shanghai -0.1% Commodities:  Crude Oil -0.74 @ 62.64 Nat Gas -0.01 @ 2.73 Gold +8.90 @ 1778.60 Silver +0.02 @ 25.83 Copper -0.02 @ 4.21