S&P 500 is sitting within its tightening trading range. The Powell 'put' and price supports at 3968 and 3963 are holding. Till they are not.

The S&P 500 remains within its daily trading range between the resistance (green horizontal line) at 4189 and the 'Powell' put (red horizontal dots) at 3968 and the support of 3963 (red horizontal line).  All pertaining to U.S. 10yr Yield and the U.S. Dollar (USD), as seen in below panes.  Note the vertical blue lines on the 25th April 2023 and 3rd May 2023; 25th April the 10YR yield and the USD both sold off and the S&P rallied and on the 3rd May the 10YR yield and the USD rallied and the S&P sold off.  This correlation is not a mystery, however, the indecisiveness of the Federal Reserve's rate hikes is tightening up equities more so than not, hence the trading range as described.