The S&P 500 futures ($ES_F) experienced a period of bullish momentum culminating in a new all-time high (ATH) during overnight trading sessions in late June and early July 2025. However, attempts to sustain upside momentum have faced challenges, with Friday's session showing a poor high followed by a liquidation break that was fully retraced. The market has since entered a consolidation phase, with a chop zone identified between 6225 and 6270 points. Key support levels include 6200, 6177, and 6132, while resistance and target levels are noted at 6285.25 and above, with some analysts projecting the S&P 500 index (SPX) to reach 6400. Market volatility, as measured by the VIX, remained flat ahead of the U.S. jobs report and a long weekend, suggesting a subdued trading environment. Traders are closely watching the 6200 magnet zone, which has been repeatedly tested without a decisive breakout. Positive gamma clusters around 6225-6230 points have contributed to price pinning in that range. Despite rotation within sectors, bulls have generally maintained control, though selling pressure and bearish signals have emerged at certain points. The credibility of the recent jobs report and non-farm payroll (NFP) data is being questioned by some market participants, adding to uncertainty in the near-term outlook. Overall, the market is poised for a potential breakout pending a decisive move beyond the current chop zone and key resistance levels.