ES (08/27): Analyses, Fundamental, SetupsE-mini S&P 500 FuturesCME_MINI:ES1!MyAlgoIndexPrice is consolidating under 6489 to 6495 with a firm shelf near 6483. Above 6489 on a 5-minute confirming close, bias favors continuation into 6504, 6518, then 6532. A 5-minute close back below 6483 opens rotation toward 6468, 6458, then 6453. Trade only during 09:45–11:30 ET and 13:30–15:30 ET. Stand down around the listed events. Macro Docket (ET) •07:00 – MBA Mortgage Applications (weekly). Source notes Wednesday 7:00 AM ET.  •10:30 – EIA Weekly Petroleum Status Report (standard Wednesday release time).  •13:00 – U.S. Treasury 5-Year Note Auction (Aug 27, 2025; size listed on TreasuryDirect).  •After the close – NVIDIA Q2 FY26 results; conference call 5:00 PM ET (2:00 PM PT).   •Durable Goods (July) is out: headline −2.8% m/m; ex-transport +1.1% (market still digesting).  •Fed calendar: no Board-listed speech flagged for Wed at time of writing; I cannot confirm regional Fed schedules.  Key Levels •Breakout band: 6489–6495 •Line in the sand (shelf): 6483 •Support below: 6468, 6458, 6453, 6444–6448 •Upside magnets: 6504/6506, 6518–6520, 6532–6535 A++ Setup 1: Acceptance Long above 6489 •Trigger: First 5-minute close >= 6489 with follow-through (no immediate fade). •Entry: 6490–6491 (momentum on signal). •Initial SL: 6484 (about 6 pts; below shelf). •Targets: TP1 6505 (+15), TP2 6518 (+28), TP3 6532 (+42). •R:R to TP1 approx 2.5. •Management: Scale 1/2 at TP1; move to break-even only after new structure or a decisive close through TP1; then trail by last 5-minute swing or VWAP band. •Invalidation: 5-minute close back below 6483 or persistent absorption under 6495. A++ Setup 2: Shelf-Break Short below 6483 •Trigger: 5-minute close = $1B = can trade with confirmation; >= $2B = allow continuation holds into the cross).