4 min readThe S&P 500 has broken into fresh all-time highs, continuing its strong bullish momentum. With the higher time frame trend clearly intact, attention now shifts to intraday levels to identify potential areas of interest for short-term traders.
On the 1-hour chart, two key levels stand out. The first is a major breakout zone between 6,110 and 6,120, marked as level 1. This area could serve as strong support if the price pulls back, particularly in the context of a deeper retracement. Just below, an ascending trendline, marked as level 2, offers additional confluence, reinforcing the potential for a break-and-retest scenario at that zone.
Zooming into the 15-minute chart, we see a similar structure. Price is currently trading well above a local reload zone, with confluence building again around the 6,160 level, also marked as level 1. An ascending trendline, noted as level 2 on this time frame, aligns closely with this zone, creating a high-probability area where bulls may look to defend.
If intraday momentum fades and the price dips into this confluence area, it could present a strong base for continuation to the upside. However, a failure to hold the 6,160–6,110 zone would suggest potential short-term exhaustion.
With the S&P 500 printing new highs, any short-term retracements into well-defined support zones could offer key insights into market sentiment and the sustainability of this breakout.
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