The S&P 500 futures fell initially overnight but have been rising this morning after they couldn’t break under 3887.75. I favor treating the current sideways movement more as a wave (II) or (B) and not yet another fourth that results in a new high. For that to work, bears need to step back in against 3909.25 or 3915.50. Over 3921.50, best to assume a new high around 3935.50. If bears do step in, first major target zone is 3868.50 to 3864.75.
