S&P 500 is in a pennant. Those usually resolve higher.E-mini S&P 500 FuturesCME_MINI_DL:ES1!GatorResearch Post rally consolidation has taken hold and formed a pennant. But the market is now entering one of its strong months on average (July) and pennants normally resolve higher in the direction of the preceding move, which is up. There is plenty of room to run when looking at stochastics on the daily chart. The MACD histogram (also on daily) is flipping towards positive and a crossover that follows price breaking out would help confirm.