S&P 500 futures (ES) took out the high created on 9 Jun yesterday by a few points and attracted some supply with a reaction. Despite the presence of the supply, S&P 500 still managed to hold above the resistance level at 3180. Should S&P 500 fail to breakout within days, we should see a retest of the lower target near 3170.
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Last Friday S&P 500 futures (ES) tested the swing low near 3105 during the London session. Subsequently it had a strong run up broke out the swing high resistance at 3170.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 13 Jul 2020 trading session. In this video, I am going to show you the market recap on...
Yesterday sharp sell off in S&P 500 futures (ES) spring the prior swing low formed on 6 Jul 2020 at 3105 and quickly recovered majority of the losses and close below the resistance formed by the axis line near 3150.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 10 Jul 2020 trading session. In this video,...
Yesterday S&P 500 futures (ES) broke out from the descending wedge (bullish wedge) with a deeper test. It seems like forming a handle to complete the cup and handle formation in the H1 timeframe since 23 Jun 2020.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 09 Jul 2020 trading session. In this video, I...
Yesterday during the non-regular trading hours (RTH) S&P 500 futures (ES) had a strong rally up and broke out 3156 swing high level followed by narrow range during the US session. It further tested the axis line as the resistance level at 3180 followed by a reaction during the Asian session today.
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About 2 hours before the US opening, S&P 500 futures (ES) tested the last hour from the previous day with a spring-like action followed by a decent rally to test the previous day high near 3100. So far, S&P 500 is on track to trend up to test the prior swing high at 3140–3160.
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S&P 500 futures tested the non-RTH low from yesterday and rallied up to close at the high. It broke out from the H1 down channel and currently retest the supply line turned support. A down swing is expected to have a test before initiating a change of character rally, possible forming an apex formation.
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S&P 500 futures had a down day last Friday with increasing supply. The reaction started 24 Jun, which broke down the support level at 3060, seems like forming a down-sloping channel to test the low formed in 15 Jun. This could be a secondary test of the prior selling climax. Consolidation in the trading range between 2925–3230 is expected.
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There was no follow through to the downside in S&P 500 futures (ES) yesterday. Last hour breakout to the upside created another opportunity for S&P 500 to reclaim the swing high near 3145, similar to 20 Jun 2020.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 26 Jun 2020 trading session. In this video, I...
S&P 500 had a strong selloff yesterday that broke the trading range between 3060–3160 with increasing supply. The lack of aggressive demand in the selloff should see S&P 500 to trend down further to test the swing low at 2925.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 25 Jun 2020 trading session. In...
Since there was no follow through to the downside on Monday, yesterday S&P 500 continued to edge up until it hit the prior swing high at 3145, which triggered a reaction down. so far S&P 500 futures is still within the H1 trading range between 3060–3160.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 24...
As mentioned in my daily market analysis video yesterday, Friday's price action in S&P 500 was a sign of weakness. Yet, there was no follow through to the downside yesterday, which violate the scenario of sign of weakness. Instead, it could be a spring scenario within the trading range between 3060–3160.
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Last Friday S&P 500 had increasing supply, which took the price down to slightly below the support level at 3060. This is a sign of weakness within the trading range from 3060–3160. A commitment below 3060 will see S&P 500 to have a test of the prior swing low 2930.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures...
Yesterday S&P 500 formed a narrow range with lower volume, suggested lack of supply in the market. A break above 3160 could see S&P 500 to test 3180 followed by 3230.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 19 Jun 2020 trading session. In this video, I am going to show you the market recap on the...
Yesterday S&P 500 broke out the symmetrical triangle pattern formed in H1 during the London session but end up becoming a failure during the US opening session. Yet there was no follow through to the downside. So far S&P 500 futures was stuck in a smaller trading range between 3060–3160.
Check out the video for a complete walk through of the daily market analysis...
Yesterday S&P 500 futures tested the previous day high level at 3068 and subsequently rallied up and consolidated via a symmetrical triangle (or apex formation). It broke out the apex formation earlier on during the London session. It is anticipated to at least test the swing high at 3156.
Check out the video for a complete walk through of the daily market...
After a spring below the maximum Point & Figure (M5, ATR 20) target projected at 2938, S&P 500 had a strong rally up and so far recovered more than 50% of the sell off bar in 11 Jun 2020. On the daily chart, it is supported at the top of the re-accumulation range from Apr-May 2020. A test of the high of the sell off bar near 3180 is expected.
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After a sharp sell off on last Thursday followed by Friday's automatic rally, S&P 500 ended merely closed above 3000. The automatic rally on last Friday was relatively weak without even attempt to recover level 3100. It also created a lower low, which was a sign of weakness (SOW), which I mentioned in my market roundup posted on Sunday. The character of the down...
