New Rally High In Emini S&P 500

The major futures indices (ES) continue to levitate at or near their post-8/05/24 relentless, vertical, rally highs. In the case of ES, my attached 4-Hour Chart shows last eve's high new rally high at 5641.25, which if sustained (today's close) will trigger an intermediate-term upside reversal signal in my work that projects to 5800.

From a more granular nearer-term perspective, as long as ES is levitating above nearest support at 5625, the bulls will be totally in charge (sellers will continue to hibernate), poised for upside continuation that challenges the July ATH-zone from 5700 to 5720.

Should ES press below 5625, then it will be vulnerable to a press into key support lodged from 5585 down to 5565, which must contain the weakness to avert a much deeper correction of the post-8/05 upleg... last is 5631.00.