Energy sector is a big percentage of the index. Buyers seem to be taking new positions, perhaps some bottom fishing?

Monthly  – Trade pressures remain up. Volume has returned to bullish from bearish. The next target up is 2189.

Weekly – have tested the 2040 short entry for five weeks but no close below yet. Trade pressures are up. Volume has changed to neutral from bullish. The next target up is 2254.

Daily – 2062 is one cycle’s short entry and 2067 is a shorter cycle long entry. These offsetting cycles can describe a new pivot point for the market. The market moves sideways until a new direction gets resolved. Trade pressures are neutral but about to go positive. Volume is bearish.

A breakdown of the 2030 lows would signal lower. Time cycles are completing in the third week of April. After that expect upward time pressures.