The market (including Nasdaq) briefly and temporarily dipped, just a bit, on Friday. Only to full recover and more. Bulls still rule, as the follwing video ES Technical Analysis video demonstrates:
The S&P 500 E-mini futures recently achieved a significant breakout, surpassing the previous all-time high at approximately 6,166 (blue line), initially set on February 25th. This critical milestone was breached around June 26th, coinciding with a clear breakout above a key descending red resistance line.
For near-term traders, two key price levels should be closely monitored:
6,214: Friday's closing VWAP, serving as a pivotal bullish benchmark.
The immediate bullish stance remains intact as long as prices hold above Friday's VWAP at 6,214. However, traders should remain vigilant—two consecutive 4-hour candle closes below this VWAP could signal renewed bearish pressure, potentially leading to a retest of the red resistance-turned-support line. If this support fails, the next critical level to watch is the former all-time high at around 6,166.
June 2025 Price and VWAP Trends: Throughout June 2025, both closing prices and the VWAP have exhibited consistent upward trends, reflecting positive market sentiment. Despite minor daily fluctuations, closing prices rose from a low of around 5939.75 on June 5 to a peak of 6253.25 on June 30. Concurrently, VWAP advanced from a low of 5924.08 on June 2 to 6243.83 on June 30. These consistent upward movements underscore an overall strengthening of market value.
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This article was written by Itai Levitan at www.forexlive.com. Read More Details
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