Hi traders,

The weather's been perfect for chart reading this week, and the S&P 500 E-mini futures are giving us a textbook lesson in breakout behavior.

(To watch Friday's video replay, tap this link.)

This massive rally keeps trending higher. The bulls are in control. We've cleared the channel, maintained the median line for the last three days, and held that median line like it was glued there.

I wrote about this exact scenario in Profits and Pumps. Once we blow through resistance and close above it, we almost always come back and test it. That's exactly what we did Thursday.

I wrote about it Wednesday night to tell you that would happen. The market doesn't surprise me when I'm reading the charts correctly.

Now we're firmly planted into this channel. The pitchfork is telling us we're looking at 7580 by the end of next week.

Here's What Changes Monday

Our support now is the median line. Monday, it will be 7362.5. Below there, 7300.

This is a textbook setup. The close is always more important than intraday action, and we closed above resistance three days running. Price action confirms the bulls have seized control.

The median line held perfectly during Thursday's test. That's the kind of technical behavior that builds my confidence in the setup. When the market respects these levels exactly as the pitchfork predicts, it shows you who's in control.

Write down those levels: 7580 target, 7362.5 support Monday, 7300 below that.

The channel break changes everything. We're no longer fighting resistance. We're riding momentum higher with clear support underneath us.

This is why I trust charts over opinions. The S&P 500 futures are speaking clearly right now. The bulls have the wheel, and the road ahead looks clear to 7580.

Thank you for watching. I'll see you next week.

• Licia Leslie