Emini S&P 500 In High-Level Digestion Period

ES (Emini S&P 500) -- Fifteen minutes after yesterday's close, after a pre-close nosedive from 7130 to 7085 in reaction to news that the impending negotiation session was called off, implying that the War would resume, President Trump announced another extension to the ceasefire, which pivoted the index to the upside, reclaiming all the late-session lost territory, and then some (7085 to 7140). 

From a near-term pattern perspective, my attached Hourly Chart shows that despite the 0.8% upmove after yesterday's close into this AM's pre-market session, ES remains in the confines of a 100-point range since last Thursday (7085 to 7185). Barring another nosedive that presses beneath the lower boundary plateau of the range, and considering that the dominant uptrend pattern from the 3/30/26 low at 6353.25 remains intact, we have to treat the range as a high-level digestion period and pattern that resolves itself to the upside in a thrust to new ATHs that projects to 7250-7290.

Conversely, a bout of weakness that breaks and sustains below 7085 will leave ES vulnerable to a deeper correction of the April advance, pointing to the 6860-6920 target support window, where the weakness will represent a 33% to 38% retracement of the April upleg... Last is 7139.00...