S&P 500 E-mini on track for new cycle highs

E-mini future ($ES_F) hesitant, but still pointing through 1846.5 for Fibo targets, 1852.0 and 1867.5

• Despite a hesitant tone to end the week, the Thursday rebound from 1816.0 flagged support rejected the bearish outside Wednesday pattern.
• Moreover, the mid-Feb recovery rally from ahead of the 1802*/01 support area leaves bullish extension threats intact into this week.
• We still latter Feb risk (today?) through 1846.5, with a break above here towards Fibo extension targets at 1852.0 and 1867.5 into latter Feb
• The 8-day RSI, has corrected from OB, whilst leaving price support intact, leaving scope to go still higher this week.

WHAT CHANGES THIS? Below 1816.0 eases bull risks to a neutral tone, only shifting negative below 1802/01.

Please see full report with levels and latest audio-visual analysis here: http:/members.marketchartist.com/Daily/sp500.pdf

Daily S&P 500 E-mini future