Following a sharp rejection at the SELL zone near the 6000 level, the S&P found support at the daily 20-day moving average. The indicator remains green and, even when factoring in potential uncertainty, currently shows no risk of turning red. As long as the key moving averages hold, the prevailing uptrend remains intact. Seasonality for June suggests a range-bound market, likely between 5700 and 6000, while July typically exhibits a bullish seasonal bias.
The S&P500 Indicator is in a declining phase following the bearish impulse observed three trading sessions ago; however, the long-term (monthly) indicator remains firmly in positive territory. In summary, pullbacks are expected to attract buying interest, and a significant sell-off does not appear imminent at this stage.