S&P 500 late May bullish bias with break above 1900.0
Although we have remained very bullish, an unexpected push through the 1898.5 peak and 1900.0 option-related/ psychological level during the Memorial Day holiday session.
This now points to a bullish extension bias for Fibo targets 1912.5 & 1926.0 with minor interim levels at 1907.5, 1916.0 and above at 1938.0.
The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.
WHAT CHANGES THIS?
- Below 1882.75 eases bull risks; through 1865.0 signals a neutral tone, only shifting negative below 1859.0.
Daily SP500 E-mini Future (Adjusted Continuation Chart)