Profit taking in NASDAQ with rotation into S&P 500?Last week profit taking activities happened in NASDAQ causing it become a laggard among the 4 indices (S&P 500, DOW, RUSSELL 2000). Instead of having a market topping scenario, I am more prone to scenario where rotation out from NASDAQ into other under value stocks in the big cap and the small cap sectors. Meanwhile, S&P is still consolidating in tight range just below the swing high resistance at 3230 with decreasing supply.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 20 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a potential trade review in the M3 timeframe (including entry, exit and the rationale behind) during the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later.
I encourage you to watch my daily market analysis video last Friday if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3230, 3310; Support: 3170–3180, 3105, 3060–3080
Potential setup - Look for long entry after a reversal from a test of 3170–3180 key support area. Else, a short entry upon rejection from the swing high resistance near 3230.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Tradereview
S&P 500 decreasing supply with no follow through to the downsideS&P 500 futures (ES) had a narrow range on yesterday with no commitment to either direction. That was accompanied by lower volume. S&P 500 still stays above the axis line at 3180, suggests a possibility to have a rally to test the swing high resistance at 3230.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 17 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3230, 3310; Support: 3170–3180, 3105, 3060–3080
Potential setup - Look for reversal signals around the key support or resistance levels, 3180-3190 and 3230.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 fails to breakout with presence of supplyS&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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 16 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind) during the US session. Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3230, 3310; Support: 3170-3180, 3105, 3060–3080
Potential setup - Look for reversal signals around the key support or resistance levels.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Managing S&P 500 positions from London session to US SessionLast 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 the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind) that held from London session to US session. Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - bullish (Day trading); bullish (long term)
Key levels - Resistance: 3230, 3310; Support: 3170-3180, 3105, 3060–3080
Potential setup - Look for a test near 3170–3180 and long on reversal.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 trade review - Switching bias to turn losses into profitYesterday 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, I am going to show you the market recap on the last session, plus two trade reviews in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3150, 3180, 3230; Support: 3105, 3060–3080
Potential setup - Look for potential reversal near the key support levels.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 possible cup and handle breakout to test higher targetsYesterday 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 am going to show you the market recap on the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - bullish (Day trading); bullish (long term)
Key levels - Resistance: 3156, 3180, 3230; Support: 3145-3150, 3120, 3100
Potential setup - Look for potential reversal near the key support levels.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 possible inflection point to rally up furtherThe reaction of S&P 500 futures (ES) yesterday has slight increase of supply. Yet the the progress to the downside was slightly below the support 3140 with possible shortening of the downward thrust. Today’s price action is important as it provides clues and confirmation for the very short term direction of the S&P 500.
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I encourage you to watch my daily market analysis video yesterday if you haven’t in order to better relate to the market recap and the trade review.
Bias — neutral (Day trading); bullish (long term)
Key levels — Resistance: 3156, 3180, 3230; Support: 3120, 3100
Potential setup — Look for potential reversal near the key support or resistance levels.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 momentum fading with decreasing demandYesterday 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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 07 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind) during the US session based on a reversal setup near the key support level. Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3156, 3180, 3230; Support: 3140, 3115, 3100
Potential setup - Look for potential reversal near the key support or resistance levels.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 on the way to Wyckoff Phase B up thrust actionS&P 500 futures (ES) had seen some profit taking going on last Thursday before the long weekend. As of the current London session, it is breaking out above the immediate swing high resistance at 3156, on the way for higher targets at 3180 and 3230. This up swing could be part of the up move in Wyckoff Phase B, likely to form an up thrust action for a bullish scenario before further consolidation in the trading range between 2925–3230.
The video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 06 Jul 2020 trading session was not uploaded this site due to some technical issue (uploading process was frozen...). The YouTube video link is in the comment below.
I encourage you to watch my daily market analysis video yesterday if you haven’t in order to better relate to the market recap and the trade review.
Bias — bullish (Day trading); bullish (long term)
Key levels — Resistance: 3180, 3230; Support: 3156, 3100
Potential setup — Look for a pullback to test the support near 3156 to long on reversal. Or to short upon rejection at the key resistance levels.
S&P 500 uptrend continues with a spring type trade setup reviewAbout 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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 02 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind) 2 hours before the US opening with a spring type trade setup. Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - bullish (Day trading); bullish(long term)
Key levels - Resistance: 3140–3160; Support: 3100, 3050, 3000, 2925
Potential setup - Look for possible interaction of the small up-sloping structure from 3090–3120 to long.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500's up wave to test the prior swing highS&P 500 futures tested the last hour bar during the London session yesterday and subsequently successfully trend higher and hit the psychological level 3100.
The video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 01 Jul 2020 trading session was not uploaded this site due to some technical issue (uploading process was frozen...). The YouTube video link is in the comment below.
I encourage you to watch my daily market analysis video yesterday if you haven’t in order to better relate to the market recap and the trade review.
Bias — bullish (Day trading); bullish(long term)
Key levels — Resistance: 3140–3160, 3100; Support: 3050, 3000, 2925
Potential setup — Look for a test of the last hour bar (3065–3073) from yesterday to long on reversal.
S&P 500 Shortening of the thrust with pending reversal to go upS&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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 30 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, 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 better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish(long term)
Key levels - Resistance: 3080, 3060 ; Support: 3020–3040, 3000, 2925
Potential setup - Look for a test of the last hour bar (3020–3040)or 3000 from yesterday to long on reversal. Or a test of the 1pm candle (3042–3057) to short.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 Wyckoff phase B secondary test within the rangeS&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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 29 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus two trade reviews in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video last Friday below if you haven't in order to better relate to the market recap and the trade review.
Bias - bearish (Day trading); bullish(long term)
Key levels - Resistance: 3080, 3050, 3020, ; Support: 2980–3000, 2925
Potential setup - Look for a test of the first hour selling bar (3030–3050) from last Friday short on rejection.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 - Confirmation is pending + supply absorption case studyThere 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 am going to show you the market recap on the last session, plus a potential trade review in the M3 timeframe (including entry, exit and the rationale behind) in the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish(long term)
Key levels - Resistance: 3100, 3080, 3180, ; Support: 3010, 2980–3000, 2925
Potential setup -Look for a test of the last hour bar (3040–3060) from yesterday or the consolidation area (3010–3040) and long on reversal.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 down move continues - trade review with 3 mistakesS&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 this video, I am going to show you the market recap on the last session, plus two trade reviews in the M3 timeframe (including entry, exit and the rationale behind) in the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to better relate to the market recap and the trade review.
Bias - bearish (Day trading); bullish(long term)
Key levels - Resistance: 3060, 3180, ; Support: 2980–3000, 2925
Potential setup - Look for a test of 3035–3060 to short on rejection.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 range with trade review on up thrust after distributionSince 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 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus one trade review in the M3 timeframe (including entry, exit and the rationale behind) happened an hour before the US opening. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - bullish (Day trading); bullish(long term)
Key levels - Resistance: 3160, 3180, ; Support: 3060, 2980–3000
Potential setup - Look for a test of the M3 range resistance-turned-support near 3110 and long upon rebound.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Spring vs sign of weakness - A tug of war in S&P 500As 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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 23 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus one potential trade review in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to better relate to the market recap and the trade review.
Bias - bullish (Day trading); bullish(long term)
Key levels - Resistance: 3160, 3180, ; Support: 3060, 2980–3000
Potential setup - Look for a test of the M3 range resistance-turned-support near 3110 and long upon rebound.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Weakness shows up in S&P 500 with increasing of supplyLast 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 (ES) for 22 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus one potential trade review in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to better relate to the market recap and the trade review.
Bias - bearish (Day trading); Up (long term)
Key levels - Resistance: 3090–3100, 3160, 3180, ; Support: 3060, 2980-3000, 2930
Potential setup - Look for a test of the last hour bar from 3085–3105 and short upon rejection.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Supply exhaustion could push S&P 500 higher -range trading setupYesterday 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 last session, plus one potential trade review in the M3 timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); Up (long term)
Key levels - Resistance: 3160, 3180, ; Support: 3060, 3000, 2930
Potential setup - Look for a test of the key support level at 3060 and long upon a reversal. Or look for a short entry when there is rejection from the key resistance level near 3160.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 - A failed triangle breakout no downside follow throughYesterday 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 of S&P 500 futures (ES) for 18 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus one trade review in the M3 timeframe (including entry, exit and the rationale behind) in the US session based on a spring setup. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); Up (long term)
Key levels - Resistance: 3100, 3160, 3180, ; Support: 3060, 3000, 2930
Potential setup - look for a test of the breakout bar near 3120 to long on rebound. Else a test and rejection from the swing high considered for a short entry.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 symmetrical triangle pattern breakoutYesterday 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 analysis of S&P 500 futures (ES) for 17 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus one trade review in the M3 timeframe (including entry, exit and the rationale behind) before the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); Up (long term)
Key levels - Resistance: 3160, 3180, ; Support: 3070, 3030
Potential setup - look for a test of the breakout bar near 3120 to long on rebound. Else a test and rejection from the swing high considered for a short entry.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 hits distribution target -should test higher levelsAfter 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.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 16 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus two trade reviews in the M3 timeframe (including entry, exit and the rationale behind) in the London and US sessions. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday if you haven't in order to better relate with the market recap and the trade review.
Bias - neutral (Day trading); Up (long term)
Key levels - Resistance: 3120, 3180, ; Support: 3070, 3030
Potential setup - look for a test of the last hour bar from 3030–3070 and long upon rebound.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.