The S&P futures are testing their key medium-term downtrend line originating at April highs and connecting through June highs.
If the S&P futures are able to surpass this downtrend line and top 1100 with conviction the futures could signal that they are entering a new uptrend. However, 1100 could prove to be a difficult barrier to leave behind.

Meanwhile, it seems upcoming earnings reports could prove to be the key test for the S&P futures along with tomorrow’s...