US500 DAILY OUTLOOK: Consolidating with a bid

GVI · August 7, 2026
General

Trend: Major Up and the trendline below it

Getting a lift from weaker US NFP (and downward revisions to prior 2 months) but still consolidating while below the 7793 high and 7800 above it.

On the other side, trades with a bid as long as it holds above 7700 and the trendline below iot.,

(AT 4 hour chart)

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