The SP500 E-mini contract is currently in a consolidation phase with no clear direction.
This consolidation could result in a support level in the area of, which is located just above the psychologically important 4000 level. It's worth keeping in mind that we're currently in the middle of earnings season, and any positive or negative news from major companies could significantly affect the market's movement.
This could lead to a potential move back down to the 3900 level, which has previously seen buying pressure. If the market were to continue to fall, then the 3800 level, a key structural and psychological support level, could come into play, and it will attract a lot of attention from investors.
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