S&P 500 futures near 7,800: Is the party about to end at the top of the channel? S&P 500 E-mini futures have surged toward 7,800, placing price near the upper boundary of the rising channel on the 4-hour chart. Why the 7,800-7,805 area matters for S&P 500 futures (see my 4h chart)What stands out to me is not only that S&P 500 futures are approaching a major round number. If futures continue holding above 7,800 while RSI remains elevated, the market may simply be experiencing powerful trend continuation. What should S&P 500 traders watch next?