March E-mini S&P Futures (ESH0) Poised to Take Out Firm Resistance

With today's high at 1128.50, the March E-mini S&P Futures contract (ESH0) has traded above 1127.00, the 50% Fibonacci retrace level of the 2-1/4 year downmove between the ESH0 all-time high at 1586.75 and 3/09/09 benchmark low at 668.25. A settlement above the 1127.00 would turn the market solidly bullish.
The S&P cash index (SPY) took out it's 50% retrace level last week and still continues to surge higher.