S&P 500 Supply should be tested and resolve from this megaphone
Among the four main indices, which are the Dow (YM), S&P 500 (ES), NASDAQ 100 (NQ), RUSSELL 2000 (RTY), NASDAQ, the past leader, shows weakness in the past week while the past laggards like the RUSSELL 2000 and the DOW are catching up. This is possible rotational play when some of the funds rotate into the laggards from the leaders.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 28 May 2020 trading session. In this video, I am going to show you the market recap on the last session, plus two trade reviews in M3 (entry, exit and the rationale behind) based on breakout setup and reversal from the oversold channel, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to relate with the market recap and trade reviews.
Bias - neutral (Day trading); Up (Swing trading)
Key levels - Resistance: 3050, 3080, 3135; Support: 2980 (resistance-turned-support), 2966 (swing low)
Potential setup - look for a pullback to the support area near 2980 to long. Or look for localised structure for a break and retest to short.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 28 May 2020 trading session. In this video, I am going to show you the market recap on the last session, plus two trade reviews in M3 (entry, exit and the rationale behind) based on breakout setup and reversal from the oversold channel, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to relate with the market recap and trade reviews.
Bias - neutral (Day trading); Up (Swing trading)
Key levels - Resistance: 3050, 3080, 3135; Support: 2980 (resistance-turned-support), 2966 (swing low)
Potential setup - look for a pullback to the support area near 2980 to long. Or look for localised structure for a break and retest to short.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
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