ES (S&P 500 E-mini) Analysis, Key Levels and Setup for June 29E-mini S&P 500 FuturesCME_MINI:ES1!MyAlgoIndexBias: ES September futures recover near 7,462, up about +0.81% from Friday's 7,401.75 settle, after the cash index slipped to a two-week low on Friday's chip-sector selloff. Overnight strength has carried the underlying back above its dealer-positioning inflection near 7,380 (cash), helped by an easing in geopolitical risk and a small beat in overseas manufacturing data. The session is constructive but resistance-gated: price now presses directly into the daily moving-average shelf at 7,485 to 7,508, where last week's sellers were active. Momentum is neutral and recovering, not yet trending. Net read is cautiously constructive while 7,406 holds, with quarter-end and a large quarterly expiration tomorrow keeping conviction moderate. Resistance: 7,470.50, overnight high and short-term momentum pivot 7,485 to 7,508, daily moving-average shelf and second computed resistance, the decision band 7,540 to 7,557, deeper retracement and third computed resistance 7,740 area, major upside positioning magnet (7,680 cash) Support: 7,452 to 7,455, overnight shelf and first computed support 7,398 to 7,406, daily pivot, prior settle, and overnight low pocket, the line in the sand 7,365 to 7,381, lower standard-deviation support and cash inflection equivalent 7,360 and below, deeper support base into the 7,300 cash region Primary Setup: Long on confirmation. Buy 7,470 to 7,475 only after a 15-minute hold above the 7,470.50 overnight high and only after 9:45 ET. Stop 7,452. Targets 7,486, then 7,500, then 7,508. Trail to break-even after the first target. Invalidation is a 15-minute close back below 7,452. Alternate: fade a clear rejection in the 7,493 to 7,508 band back toward 7,470 and 7,455, stop above 7,515. Skip two-sided chop between 7,406 and 7,470, and stand aside from longs on a sustained break below 7,398.