Another technical look at the S+P 500 with big earnings due this week

There is not that much of importance due out today in terms of US data releases or Q1 earnings reports. However, as far as earnings go, that sees another huge bunch of S+P 500 companies reporting this week. There are around 45 of those due tomorrow and then on Wednesday and Thursday we get the big 4 tech guns (noted earlier on the Nasdaq) along with other leading S+P 500 names. Those cover the likes of Coca Cola, Visa, Caterpillar, Qualcomm, Eli Lilly, McDonalds, Mastercard, Chevon and Exxon Mobil throughout the week. Ahead of all this, the S+P 500 closed on Friday pretty near its best levels of the day (5,528.11), at 5.525.21. That means it has pushed above what was a 50% correction (5,491.24) of the fall from 6,147.43 to 4,835.04. The next corrective rebound level is now at 5,646.10 (61.8%). That is not on the radar so far today in terms of the S+P futures, but all those earnings could help it towards that by the end of the week. Of course the one big Caveat to that is whatever outburst the US President has in store for us next. With that in mind we see that he is up and about already today, immediately criticising the latest Washington Post poll showing that up to 75% of Americans are unhappy with his trade tariff policy. The S+P 500 is right now priced to reopen later today at around 5,519