S&P500 retested the 3,942 level last week, as correctly anticipated on 27 February 2023’s weekly commentary. Prices ended the week strongly by closing at 4,048, just below the highlighted 4,050 bullish pivots. A daily close above 4,050 indicates a continuation of upside momentum with a retest of 4,100 resistance. However, a daily close below 3,994 will continue to put selling pressure on the index and open the door towards the 3,942 support.