The S&P 500 futures (ticker: ES_F) have demonstrated bullish momentum, breaking out of a 1.5-week bull flag at 5492 and surpassing the initial target of 5672. After nine consecutive days of gains, the market faces critical support levels between 5665 and 5672, which must hold to sustain the rally toward 5751. Key resistance and support levels to watch include the weekly high at 5724.75, the pivotal April high at 5740, the nVPOC from March 27th at 5750, and the mid-March weekly point of control at 5815. The upper weekly target is identified at 5921. Last week’s market action featured a true gap up on Thursday, leading to the formation of a double distribution on the weekly profile. Despite a weak close on Thursday, the market continued to advance on Friday, indicating ongoing strength. Analysts emphasize the importance of Friday’s close relative to these key levels to determine if the bullish trend can be maintained into the following week.
#ES_F Daily Plan | May 5 Change took place on Thursday last week, as the market opened with a true gap up and ultimately formed a double distribution on the weekly profile. Despite a weak close on Thursday, Friday’s session saw upside continuation. A strong market will continue https://t.co/Z37rIqn1yG
FRIDAY REVIEW AND WEEKLY KEY LEVELS https://t.co/Elhnr8zS5E
🚀 #ES_F Weekly prep and levels 🔹 Key Levels to Watch: like and shares- Helps me out 💹 5724.75 – Weekly High (Critical Friday Close) ⚠️ 5740 – April High (Pivotal Resistance) 📊 5750 – nVPOC from March 27th 📈 5815 – Mid-March Weekly POC 🎯 5921 – Weekly Upper Target 🗓️ Macro https://t.co/MnTedjmNaA