The E-mini S&P 500 futures (ES_F) have shown a notable increase, reaching a limit up of 7% at 5,416, reflecting a rise of 600 points from recent lows. Market analysts indicate that for the E-mini S&P 500 to maintain its upward momentum, a recovery in bond markets is essential. Observations suggest that the futures market is currently awaiting further guidance from the Federal Reserve, with traders expressing concerns about the bond market's performance. The sentiment in the trading community emphasizes the need for treasuries to recover in order to support sustained rebounds in the E-mini S&P 500 futures.