SPX500 Analysis dated 2 Apr 16

SPX500 Weekly Chart
SPX500 Weekly Chart
SPX500 Daily Chart
SPX500 Daily Chart

Comment: Price is within within weekly and daily supply zone. At daily chart, we can see increasing volume that stop of price from drop from the rejection of price from the daily supply zone, showing some buying power. Need to watch further on how the market react in this region to decide further actions.

For options: May be possible to sell weekly OTM Call at about 2090, and buy further OTM weekly call at 2140 with the anticipation is that price will not break out on upside within next week.

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