S&P 500 bullish bias for 1900.0 target in late May
A better push through further flagged resistance at 1888.5/1890.0 to reinforce the rebound this week and prior rejection of a more neutral tone through 1854.5.
We see a resilient end to the week on Friday, but likely capped for now below the 1898.5 peak and 1900.0 option-related /psychological level and holding above 1882.75/ 80.25.
Looking into latter May, we still see a bullish extension bias, above 1900.0 for Fibo targets 1912.5 & 1926.0.
WHAT CHANGES THIS?
Below 1864.5 eases bull risks; through 1854.5 signals a neutral tone, only shifting negative below 1844.0.
4 hour SP500 E-mini Future
Daily SP500 E-mini Future (Adjusted Continuation chart)