We stated in recent reports that "the rebound from ahead of 2029.0 has rejected a more bearish shift and lends the constructive view into midweek and into the FOMC announcement".
The aggressive bull surge post-FOMC through barriers at 2074.75 and 2096.0 has signaled a resumption of a bull theme and for upside challenges into latter March.
Short-term Outlook - Upside Risks:
- We now see a more positive tone with the bullish threat to 2109.75/10.25 peaks.
- Above here targets 2122.5 and 2137.25 Fibo extension levels.
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2 Hour S&P 500 E-mini Future Chart (June contract)