US500 Bullish Momentum Confirmed: Targeting Higher Resistance Levels Intraday

Market Structure & Trend Confirmation

The US500 continues to demonstrate strong bullish momentum, a trend I've been tracking closely. Currently, the index is trading around 6075.7, having posted a healthy 0.42% gain in the last 24 hours. This consistent upward trajectory confirms that "the trend is indeed your friend," and I see no immediate signs of a significant reversal. The market has shown resilience, with the daily range holding above the 6037.15 support, and even a brief dip earlier today found buyers, reinforcing the underlying strength. Broad market sentiment, driven by robust corporate earnings reports and a generally optimistic economic outlook, provides a solid fundamental underpinning for this upward movement.

Technical Setup & Entry Strategy

My analysis points to a high-probability long setup for an intraday play. I'm looking for an entry around 6063. This level sits just above the key technical support at 6050, which has proven its strength repeatedly. A pullback to this zone offers a prime opportunity to join the existing bullish momentum. My stop-loss is firmly placed at 6001. This is a critical level, positioning us just below the major psychological and technical support at 6000,