Chart by Lee Adler, report generated by AI.
The S&P 500 E-mini futures (ES) are at a critical juncture heading into today’s session. The market has been riding an upward trend but is now approaching key resistance levels that could determine whether the rally continues or stalls.
Key Levels to Watch:
- Resistance at 6,077: Price is testing this level, which has acted as a ceiling in previous sessions. A breakout above it could trigger momentum toward the next target at 6,120.
- Support at 6,035: This is the immediate downside level to watch. If price holds above it, the bullish trend remains intact.
- Deeper Support at 5,980: If the market breaks below 6,035, the next likely stopping point is around 5,980, where buyers have stepped in before.
Momentum and Market Structure:
- The uptrend is still in play, but price action has been consolidating, suggesting the market is waiting for a catalyst.
- If today’s session starts with strength and pushes through resistance, we could see a continuation of the recent rally.
- A failure to hold above 6,035, however, would be an early warning that sellers are gaining control.
Trading Implications:
- Bullish case: A break and close above 6,077 signals continuation higher, with 6,120 as the next upside target.
- Bearish case: A sustained drop below 6,035 opens the door for a potential move lower toward 5,980.
With market sentiment influenced by earnings reports and economic data, traders should stay nimble and watch for confirmation at key levels before committing to a direction.
Stay Ahead with Lee Adler’s Technical Trader – Actionable Market Intelligence for Serious Traders
Markets are constantly shifting—don’t trade blind. Lee Adler’s Technical Trader gives you the critical insights you need to navigate volatility and seize high-probability trade setups.
📊 Want to know where the market is headed next? Get the latest cycle analysis and key technical levels in this week’s market outlook: Volatility Returns: Key Cycle Signals to Watch
📈 Looking for the best trade setups? Our proprietary screening process filters thousands of stocks to uncover the strongest buy and sell opportunities each week: Top Swing Trade Picks
🔗 Subscribe now for exclusive access to premium insights and actionable trade setups before the market moves. Stay ahead. Stay informed. Trade smarter.
