At 4,136.28, the S&P 500 is eyeing United States Core Retail Sales today at 12:30 UTC.

With a daily low of 4,110.27, the S&P closed yesterday at 4,136.28, after ending Friday at 4,124 and gaining 12.28 points (0.3%).

• United States Core Retail Sales data will be released today at 12:30 UTC, with an expected improvement to 0.4%. the S&P reaction to indicator information will follow.

Earlier data releases related to the S&P 500 – United States TIC Net Long-Term Transactions (Mar) released yesterday at 20:00 UTC with a figure of 133.3 billion, while the previous figure was 56.6 billion. United States NY Empire State Manufacturing Index (May) came out at -31.8, while a consensus of analysts was expecting -3.7.

Here is the technical analysis of the S&P 500 before macro data is released:

S&P 500 made an initial breakout above its 10 day Simple Moving Average at 4,134.56, a potential indicator of a newly emerging bullish phase. Despite this, the S&P 500 could be slowing down soon as it approaches resistance at 4,160.6. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems the S&P 500 might continue pointing upwards in the short term.

Coming up for the S&P 500 — United States Retail Sales is projected to outperform its last figure with 0.8%. It previously stood at -0.6%; data will be released today at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released today at 12:30 UTC.

As the markets get ready for more data to be released — Nikkei went up by 0.73% yesterday, and closed at 29,843. ASX 200 lost 0.45% yesterday and closed at 7,267. Nasdaq rises 0.66% yesterday and closed at 12,300.

The index has been trending positively for about 2 months. The S&P is now trading 15.29% above the significant low (3,577) it slumped to 7 months ago.