- SP500 FUTURES closed above the support level of 4176, which is good for the bull; however, 4180 is very close to the 4176 support. In essence, it posts some ambiguity at the moment.
- On the hourly Renko chart below, it looks like a small head and shoulders formation is building.
- If 4176 support holds, the index can continue to move higher.
![SP 500 FUTURES Closed above 4176 Support but the Downside Is Threatening 1 Untitled1 SP500 FUTURES closed above the support level of 4176, which is good for the bull; however, 4180 is very close to the 4176 support. In essence, it posts some ambiguity at the moment.
On the hourly Renko chart below, it looks like a small head and shoulders formation is building.
If 4176 support holds, the index can continue to move higher. </p>](https://lacois.com/wp-content/uploads/2021/05/Untitled1.png)