The E-mini S&P 500 futures (#ES_F) experienced notable movements over the past days. Initially, there was a slight bullish bias with a pre-open trend from a key zone, and bonds were reversing. However, caution was advised as a bearish engulfing pattern on May 23rd suggested a potential move to the 5160 area. The pivot area was identified around 5287.5. On May 31st, the futures bounced back, aligning with the 1-month VWAP and showing strong early breadth with zero negative TICKs. A bullish reaction was observed after the PPI release. The futures reached 5219.25, with significant volume alerts going off later in the day. A quick 14 pts movement was noted with timestamps.