
The E-mini S&P 500 futures (ES) reached fresh all-time highs, starting the week at 5,900. Analysts suggest that weak hands will be washed out as the market oscillates upwards. The upper call wall has shifted to 5,850 SPX, with potential targets of 5,902 and 5,923 before possibly reaching 5,980-5,985. The market's upward momentum is attributed to the unwinding of volatility positions and a favorable macroeconomic backdrop. Trading volume for ES surpassed 600,000 contracts just after 3 PM, indicating strong market activity. The market is poised for further record highs as price exploration continues following last week's breakout from a multi-day balance area. Additionally, the Nasdaq 100 futures (#NQ_F) hit a new monthly high of 20,560.50. October 15 is expected to see continued price exploration.
$ES Daily Plan | October 15 Price exploration to the upside continues following last week's breakout from the multi-day balance area, illustrating the principle that extended periods of consolidation typically result in more significant breakouts. We are nearing the 100% range… https://t.co/zu3ZeyXo59
#ES_F Ready for new record high #daytrading https://t.co/0gYuQqMhhS https://t.co/qJoMBPCMB8
Crazy...#ES_F just crossed 600k on the day and its just after 3 pm .....
