A far deeper correction than expected Friday, but holding support at 2064.5 to maintain an upward bias into April, but a consolidation theme for Monday.
The earlier April push through 2089.25 signaled a more bullish tone for upside pressures into April, reinforced with the extension through 2101.0.
For Today: We see a neutral tone between 2064.5 and 2092.0 (with a positive bias)
Break above 2092.0 aims for 2100.25, maybe 2105.5/70.0, which we would look to try to cap.
Break below 2064.5 aims for 2049.0, which we would look to try to hold.
Short/ Intermediate-term Outlook - Upside Risks:
We see a more positive April tone with the bullish threat to 2107.0 and the record high at 2109.75.
Above here aims for Fibo targets 2122.5 and 2137.25 and maybe the option level at 2150.0.
What Changes This? Below 2064.5 eases bull risks; through 2038.0 signals a neutral tone, only shifting negative below 2030.25.
Momentum: The 8-day RSI, short-term momentum is far from OB, and we still see scope to go higher this week.
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4 Hour S&P 500 E-mini Future Chart (June contract)