Supply absorption was observed in the S&P 500 futures at 6000 psychological levels last Monday followed by a continuous rally.
The all-time high price target was hit without attracting excessive supply.
However, the S&P 500 was short-term extended and overbought. It is not uncommon to have a pullback or consolidation around 6100. This would be healthy for a sustainable rally and set the stage for more quality trade setups.