Support and resistance levels of this V-shaped recovery.

chart: investing.com

ES re-entering this price box now being resistance will start negating the bearish scenario. I guess that officials finally decided that it is not yet the time to let this decade old bull market perish. I don’t feel there has ever been any significant retail account participation in this market either.

chart: investing.com

The bullish end to the week projects the target zone shown on the chart.

chart: investing.com