The U.S. stock indexes saw a strong rebound from the contract lows scored in late March. However, at mid-week this week the bulls were fading. See on the daily bar chart for the June e-mini S&P futures that the bears are keeping a downtrend line in place. The next upside price objective for the bulls is to push prices above solid chart resistance at this week’s high. A drop in prices below chart support at this week’s low would be a bearish development to suggest a retest of the contract low, or below. Stay tuned! Jim
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