The plunge last week saw a switch to a range theme, but 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.
Range Parameters: We see the range defined by 2029.0 and 2096.0.
- We see an upside bias for 2074.5; break here aims through 2079.5 for 2096.0/96.25.
- But below 2056.25 opens risk down to 2037.25, maybe key support at 2029.0.
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2 Hour S&P 500 E-mini Future Chart (June contract)