4270.00 remains 3 - 5 week target able to contain selling on a monthly basis, once tested the market poised for pushing onto new highs over the following 3-5 weeks.
A daily settlement below 4263.25 signals 4187.75 within several weeks, and above which the 4808.25, January 2022 high is likely by the end of the year.
Upside, a daily settlement above 4514.25 signals 4609.25 within several weeks, able to contain buying on a quarterly basis and the area to settle above for then yielding the targeted 4808.25 within 3-5 more weeks.
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For Monday, 4475.75 can contain session strength, below which 4364.00 is likely within the day, able to contain session weakness.
A settlement today below 4364.00 signals 4263.25 - 4270.00 by the end of next week or sooner, where the market can bottom out on a weekly basis - possibly through July activity.
Upside Monday, closing above 4475.75 signals 4514.25 tomorrow, able to contain buying through next week and below which 4270.00 is attainable over the next several weeks.
Inversely, a daily settlement above 4514.25 will keep the longer-term objective at 4616.50 in reach over the next 1-2 weeks, where the market can top out through Q3 and a meaningful upside continuation point over the same timeframe.
A daily settlement below 4263.25 signals 4187.75 within several weeks, and above which the 4808.25, January 2022 high is likely by the end of the year.
Upside, a daily settlement above 4514.25 signals 4609.25 within several weeks, able to contain buying on a quarterly basis and the area to settle above for then yielding the targeted 4808.25 within 3-5 more weeks.
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For Monday, 4475.75 can contain session strength, below which 4364.00 is likely within the day, able to contain session weakness.
A settlement today below 4364.00 signals 4263.25 - 4270.00 by the end of next week or sooner, where the market can bottom out on a weekly basis - possibly through July activity.
Upside Monday, closing above 4475.75 signals 4514.25 tomorrow, able to contain buying through next week and below which 4270.00 is attainable over the next several weeks.
Inversely, a daily settlement above 4514.25 will keep the longer-term objective at 4616.50 in reach over the next 1-2 weeks, where the market can top out through Q3 and a meaningful upside continuation point over the same timeframe.
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