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Market Overview:
S&P 500 futures continue to trade in a strong bullish trend, pushing higher this morning while holding inside the momentum zone and remaining securely above shallow Fibonacci support.
Bullish/Bearish Trend Analysis
Trend Condition: Bullish Trends: 14 Bearish Trends: 0
Trend Condition: Strong Uptrend
Explanation: All 14 moving averages in the trend stack slope upward with zero bearish lines, confirming full bullish alignment and no emerging downside pressure.
Trend Structure: wide
Implication: The fast-to-slow EMA spacing remains wide, signaling durable underlying strength even as recent price behavior reflects the steadier rhythm of a mature trend rather than an accelerating phase.
Probability Outlook:
Continuation: ~65 % chance while the width stays wide and all trend lines remain bullish.
Consolidation / Pullback: ~35 % chance, particularly as price continues to encounter resistance at the upper boundary of the multi-week range.
Charts by TradingView
Price Action and Momentum Zones
Current Price and Change:
Currently, the S&P 500 Futures are at 6,930.75, up by 37.00 pts or 0.54 % vs the prior session shown on the chart.
Market Behavior:
Today’s candle shows a firm intraday advance after yesterday’s mild softness. Price is attempting to push back toward the recent resistance band, showing renewed bullish engagement without breaking from the broader consolidation structure.
Momentum Zones:
Price remains well above the 23.6 % retracement and continues to trade inside the bullish momentum zone. Buyers defend shallow support effectively while testing the upper edge of the multi-week range.
Fib Retracement Levels
Current Position Relative to Levels:
The market is currently above the 23.6 % Fib retracement on this chart.
Analysis:
Holding above the shallow 23.6 % level maintains the recent pullback as a contained consolidation rather than a deeper corrective move. Lower Fibonacci zones remain untested, preserving ample demand should the market experience another cooling phase.
Overall Market Interpretation:
The strong uptrend remains intact with all 14 trend lines green, price positioned inside the momentum zone, and shallow support consistently respected. Today’s strength reinforces the bullish case while compression beneath resistance continues to shape the short-term outlook. Sideways digestion or a controlled breakout remain the favored paths unless shallow support breaks.
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