Bullish Expectations for S&P 500

CME_MINI:ES1!   S&P 500 E-mini Futures
ES1 ( S&P 500 ) broke out of its down trendline and then saw Sign of Strength (SOS) , breaking above its resistance.

With the bullish character, we expect the current short term demand>support situation to persist, trading towards 2850 resistance area (FIbo 61.80% area and previous support level .

However, 1 sign of cautious is the volume. We like to see more volume as index trends higher. If volume remains at current rate, we may see trend reverse.
Trade closed: target reached: Closed earlier in view of weakness in demand at near resistance.


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