A key win for bulls is the SPX moving above the 200 EMA on the 60-minute chart at 1948.77 signaling bullish markets for the hours and days ahead. This is a bear killer. Bears need the SPX under 1949 pronto or they will continue to crumble. Price begins on Monday tucked under the 50-day MA resistance at 1957.06 and above the 20-day MA support at 1951.67. Bulls win above 1957. Bears win under 1952. The sideways fight continues at 1952-1957. The SPX closes at 1955 two days in a row and will pivot from this perch. Note how price is playing around at June highs so use these levels as a key gauge of market strength, or lack thereof.
For Monday, the bulls need to touch the 1964 handle and an upside acceleration occurs taking price into the 1970's where a breach of 1976 resistance will send the SPX up to attack the all-time highs again. The bears need to push under 1941.50 to accelerate the downside which will quickly test 1936-1937 support. A move through 1942-1963 is sideways action for Monday and may be the order of the day considering that it is such a wide range.
Note the air pocket between 1951 and 1924. Thus, if the bears push below the 1947-1952 support zone, and especially under Friday's 1942 low, 1924 is likely. 10 trading days remain in August so pay attention to the starting number at 1930-1931 here forward to see if a negative or positive month is on tap. Watch the 20 and 50-day MA's and the 200 EMA on the 60-minute since these critical moving averages identity the winner going forward.