$ES - S&P500 futures contracts

٢١ مايو ٢٠٢٣

ES1!
Analysis purely based on the chart. Ignoring all noise surrounding (debt ceilling issues, ukraine, inflation, etc.)

Currently trading above 50DMA/100DMA/200DMA.
Golden cross in February 2023 between 50DMA & 200DMA.

ATH Anchored VWAP > 4071.50
WEEKLY PIVOT 4184 Key level.

Price action over AVWAP:
> 1) Red Box (first attempt to break higher): Failed February/March
> 2) Green Box (second attempt to break higher); in process.
First, consolidated above AVWAP then failed hit March lows then squeezed all the way up.
Currently we are again back to consolidation above AVWAP and it looks to breakout.

In case we pullback, bulls want to hold 4184/5 for the next leg higher.
Bullish Seasonal returns last 2 weeks of May and end before mid June.