The S&P 500 futures (ES) made another attempt at the all-time high but failed to push through. This rejection at resistance could signal potential exhaustion from buyers.
Key points I’m watching:
Strong rejection at ATH zone.
Momentum slowing on shorter timeframes.
Increased selling pressure in the last few sessions.
Potential for a pullback toward recent support levels.
If sellers step in with volume, we could see a healthy correction before any new ATH attempt. On the flip side, a strong breakout above this level with sustained buying could invalidate the short bias.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.