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S&P 500 range trading before breakout? Daily Market AnalysisCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 21 May 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in M3 (entry, exit and the rationale behind) based on SOS breakout followed by a reaction to the support level, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. If you have not watched my daily market analysis video from yesterday, feel free to watch it below so that you can relate to the market recap and trade review I mentioned in today's video. Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
CME_MINI:ES1!
by mingjong
1
S&P 500 futures possible supply absorption before breaking outCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 20 May 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in M3 (entry, exit and the rationale behind) based on SOS rally followed by a reaction turned to be a failure, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. If you have not watched my daily market analysis video from yesterday, do watch it below so that you can relate to the market recap and trade review I mentioned in today's video. Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
CME_MINI:ES1!Long
by mingjong
S&P 500 futures pending breakout on sign of strength rallyCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 19 May 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a trade review in M3 (entry, exit and the rationale behind) during the today's London session based on the up thrust with a test setup, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. No trades for me during the US session yesterday. Yet, you are still encouraged to watch yesterday's market analysis video so that you relate to the market recap I mentioned in the video. Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
CME_MINI:ES1!Long
by mingjong
7
S&P 500 Spring plus a test with higher upside - Market AnalysisCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 18 May 2020 trading session. In this video, I am going to show you the market recap on the last session including trade review in M3 (entry, exit and the rationale behind) relying on a spring setup 9 minutes after the US opening, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 15 May 2020 recap - 2 hours prior to US opening, S&P 500 formed a down-sloping range in M3. This down-sloping range was considered as a test of the last hour bar, which was key area as mentioned in my daily market analysis video on last Friday. During the first 10 minutes of the opening, S&P 500 had a spring of the localized low followed by a reversal bar, which was a nice long entry. Watch my market analysis video on last Friday below if you haven't to get a better context for the trade review. On H1 timeframe, Friday's pullback to level around 2810 could be considered as a test of the spring formed on Thursday on lower volume. Continuation to the upside to be expected. Trade review on last session (Friday) - On the M3 timeframe, after a spring of the localized low on 9:33pm bar followed by a reversal bar next, a long entry was initiated, in anticipation a break out to the upside from the down-sloping range. The bar that initiated the spring of the low was a big spread bearish bar. If it really was that bearish, we should see continuation of break down to the downside or at least weak rally instead of a big spread bullish reversal bar right after the spring bar.  The second long entry was after a reaction and tested 2815 level coincided with the base where previous breakout initiated. A limit exit is set at the high of the rejection bar with high volume at 10:36pm (GMT +8). Fast forward to the current chart, S&P 500 continued to rally in the Asian and London session currently within the resistance zone 2890–2910. We need to pay attention to how the price interacts within this resistance zone (also refer to big spread breakdown bar acted as supply zone on 13 May in H1 timeframe). If S&P 500 can break the resistance zone, it is likely to test the next swing high at 2950–2960. Bias - Up (day trading); neutral (swing trading) Key levels - Resistance: 2890–2910, 2940–2960; Support: 2840–2860 Potential setup - a test and bounce from the support zone 2840–2860 also coincides with the last hour bar from Friday could form a long entry. Else pay attention to rejection and reversal from the resistance zone 2890–2910 to initiate a short entry. Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
CME_MINI:ES1!Long
by mingjong
5
S&P 500 strong rally up confirming the demand on 13 MayCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 15 May 2020 trading session. In this video, I am going to show you the market recap on the last session including a trade review in M3 (entry, exit and the rationale behind) relying on a spring and test setup, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 14 May 2020 recap - At the US opening, S&P 500 was rejected from the resistance area around 2790–2800 and subsequently dipped below 2771 swing low temporarily, and reversed and stayed above the level, which is a spring setup I favor for long entry. As mentioned in my daily market analysis video yesterday, demand was present on 13 May based on the assessment of effort vs result, the spring setup is a reliable setup for long entry under the context. Watch my market analysis video yesterday if you haven't so you can better relate the trade review: Trade review on yesterday session (Thursday) - On the M3 timeframe, after a spring of the swing low at 2771, followed by a test and reversal, a long entry was initiated on the breakout of the supply zone 2766-2775. The immediate take profit target was aimed at resistance level 2790–2800. Trailing stop was used to mange the trade and stopped out at 2802 while getting a Reward to Risk ratio of 1.6.  Back to the situation now, S&P 500 appears to have a spring of the prior swing low. The change of character initiated from yesterday session accompanied with great demand volume, which was in sync with the bullish spread (result). I expect upside continuation to 2890 and eventually the swing high at 2960. Bias - Up (day trading); neutral (swing trade) Key levels - Resistance: 2865, 2890, 2860; Support: 2820-2830, 2790–2800, 2770 Potential setup - a test of the last hour bar from yesterday coincides with 2820–2830 support area. A bounce from the area could form a long entry.
CME_MINI:ES1!Long
by mingjong
6
S&P 500 futures weaken but demand was spotted yesterdayCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 14 May 2020 trading session. In this video, I am going to show you the market recap on last session including a trade review in M3 (entry, exit and the rationale behind) on a potential aggressive profitable trade on breakout and retest setup, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 13 May 2020 recap - there was follow through to the downside for S&P 500 since the selloff on Tuesday. S&P 500 broke below the support level at 2830, which was also served by the demand line from the up channel. On the daily chart, we can see that there was increasing of the supply on yesterday's drop. Yesterday's bar have smaller spread than Tuesday's with demand tail. On the H1 timeframe, S&P 500 did not manage to touch the oversold line. All the above suggests there was demand coming in to prevent S&P 500 from falling further. This is to be confirmed by a change of character up wave, to at least pause the downtrend for now. Potential Trade review on yesterday (Wednesday) - Since I did not have any trade, this was only on a potential trade that some might trade. As the potential short entry was too close to the support level near 2830 (as mentioned in my video yesterday) and the demand line from the up channel, plus it happened around 11:30pm, which is a bit late, so I gave it a miss. Aggressive trader might be interested to in initiate a short entry on a breakout and retest setup near 2835 to anticipate breakdown due to excessive supply. Check out my market analysis video below from yesterday if you have not: Currently, S&P 500 is still below the axis line of 2825. Despite there was some demand to stop S&P 500 from falling further, I need to see aggressive demand to initiate a change of character upwave in order to pause the downtrend. Else we should see S&P 500 to find support at lower levels at 2750-2775 or back to 2715. Bias - Neutral (day trading); Neutral (swing trading) Key levels - Resistance: 2825–2830, 2850; Support: 2786 (swing low) Potential setup - a rejection around 2840-2850 could provide a short entry. Else a bounce from around 2786–2800 could form a long entry. Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
CME_MINI:ES1!
by mingjong
3
S&P 500 futures - start of the correction? Daily Market AnalysisYesterday false breakout to the upside led to last hour sharp sell off and broke the 2880–2900 key support area was a change of behavior to the S&P 500 futures. The selloff found support at 2830 level, which is close to the demand line from the up channel. Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 13 May 2020 trading session. In this video, I am going to show you the market recap on last session including trade review in M3 (entry, exit and the rationale behind), the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 12 May 2020 recap - yesterday sell-off was accompanied by increasing of supply, which was in sync with the bearish result. The only bullish sign was despite the increasing effort (volume), the price is still above 2830 key level and within the up channel. Trade review on yesterday session (Tuesday) - On M3 timeframe, a short entry was initiated after the up thrust within the supply zone 2920–2936, as per my trading plan mentioned in my daily market analysis video yesterday. Second potential short entry after a break down from the localised support near 2915, followed by a backtest and reversal. Watch my daily market analysis video yesterday below if you haven't to get a better context of the trade review: Since the false breakout of the apex was confirmed after the break down of support level at 2915, long entry from support level near 2900 is no longer valid. A false breakout acts as a failed signal, which favors a bearish entry since breakout to the upside was violated. Back to the current situation, S&P 500 is still trading within the larger range between 2715–2960. A break below 2830 should see further downside targets at 2775 and 2715. The current rally from the low at 2830 could be a test of yesterday selloff bar from the last hour, which is the key to justify for continuation of the selloff. So, do pay attention to the character of this rally. Bias - Down (day trading); Neutral (swing trading) Key levels - Resistance: 2880–2900, 2920; Support: 2850, 2830 Potential setup - a rejection near 2880–2900 resistance area could provide a short entry. A break below 2830 could also form a short entry. Do pay attention to any possible supply absorption from 2830–2850 despite the bearish outlook.
CME_MINI:ES1!Short
by mingjong
6
S&P 500 pending breakout from apex - daily market analysisCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 12 May 2020 trading session. In this video, I am going to show you the market recap on last session including trade review in M3 (entry, exit and the rationale behind), the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 11 May 2020 recap - yesterday S&P 500 had a sharp reaction from early European session leading into US opening, tested the support at 2890–2900. This level is an important support and was mentioned in my market analysis video yesterday. Subsequently S&P 500 recovered most of the losses and closed slightly lower at 2922.75. Check out my daily market analysis video below from yesterday if you haven't done so: Trade review on yesterday session (Monday) - On M3 timeframe, prior the opening of the US session, S&P 500 dipped below 2900. Within 10 minutes of the opening, S&P committed above 2900 and started a small trading range before breaking out . There are quite a few potential long entries within the small trading range near 2900 support level as it showed supply absorption characteristics, as I pointed out in the video. On the daily chart, the volume is slightly higher with normal spread and high close. On H1 timeframe, yesterday pullback from 2940 to 2890 during the non-RTH had slightly increasing supply yet did not manage to commit and stay below 2900, suggests supply absorption. Going forward, ES is now in an apex formation pending to breakout. A break below 2900 could see it to test 2850 support level. Else, a breakout with continuation to the upside to at least 2960 is likely. Bias - Up (day trading); Up (swing trading) Key levels - Resistance: 2920–2936, 2960; Support: 2880-2900, 2850 Potential setup - A pullback to the support level at 2900 with a reversal will provide a long entry. Else a rejection from resistance zone around 2920–2936 could form a short entry.
CME_MINI:ES1!Long
by mingjong
11
More upside ahead for S&P 500 - Daily Market AnalysisCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 11 May 2020 trading session. In this video, I am going to show you the market recap on last session including trade review in M3 (entry, exit and the rationale behind), the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 8 May 2020 recap - Major movement happened during the Asian and London session. Before the market opening, S&P 500 shrugged off the biggest one-month job losses on record as announced during the Nonfarm Payrolls event. During the US session, S&P 500 index tested the level at 2900 as mentioned in my market analysis video on last Friday, which also coincided with the demand bar (a breakout bar) happened in the Asian session. A narrow range session, which provides some opportunities for range trading. Refer to the market analysis posted last Friday below. Trade review on last Friday session- After a test and reversal from 2900, on top of a spring of the swing low in the M3 market structure, long entry was initiated near 2901. Exit was at the immediate swing high near 2914. On the daily chart, S&P 500 looks set to challenge the swing high at 2960. It is possible to continue with the momentum to test 3000 psychological level, which coincides with running into overbought of the second up channel, before starting a pullback. Bias - Up (day trading); Up (swing trading) Key levels - Resistance: 2960, 3000; Support: 2920, 2890–2900 Potential setup - A pullback and reversal from the support area near 2920 and the non-RTH low at 2915 could represent an opportunity for a long entry. The targets for take profit are based on the key levels (plus day high, low from previous day, non-RTH high, low, etc…).
CME_MINI:ES1!Long
by mingjong
1
S&P 500 still in a trading range - daily market analysisCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 7 May 2020 trading session. In this video, I am going to show you the market recap on yesterday's session on Tuesday including trade review in M3, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 6 May 2020 recap - S&P 500 tested the high near 2890 and started a reaction towards the support level at 2850, which was mentioned in my video yesterday. The rally off the support was mediocre. There was no strength for the subsequent lifts from the support level at 2850, which lead to a sell off below the level. Watch my market analysis video from yesterday if you haven't so that you can relate to the trade review presented in today's video: So far, S&P 500 still trading within a range between 2825-2890. Commitment above 2890 should see a test of 2960, which is the swing high. A broke below 2830 could see S&P 500 to test the lower levels at 2770–2800. Bias - neutral (day trading); Up (swing trading) Key levels - Resistance 2880–2900, 2960 (Swing high); Support: 2840-2850, 2820 Potential setup - a test and reversal from 2880–2900 could present a short entry. Else a bounce from 2840-2850 could be a entry for long. The targets for take profit are based on the key levels (plus day high, low from previous day, non-RTH high, low, etc…).
CME_MINI:ES1!
by mingjong
2
S&P 500 daily market analysis with trade reviews yesterdayCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures ( CME_MINI:ES1! ) for 6 May 2020 trading session. In this video, I am going to show you the market recap on yesterday's session on Tuesday including a potential trade setup in M3, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 5 May 2020 recap - S&P 500 broke the non-RTH high formed in the London session at the opening bar, followed by testing the resistance area at 2880–2890, which was mentioned in my daily market analysis yesterday. There was no significant reaction until the sell-off happened at the last hour bar with increasing supply. Watch the market analysis for S&P 500 yesterday below if you haven't done so: Refer to the video for a classical short entry after a break below followed by inability to rally up. Yesterday last hour sell-off at resistance level of 2890 was accompanied by increasing of supply. I anticipate S&P to spend some time between 2840–2900. A break above 2900 should see S&P 500 to test higher target at 2960. Bias - neutral (day trading); Up (swing trading). Key levels - Resistance 2880-2900, 2960 (Swing high); Support: 2850 Potential setup - a test and reversal from 2890 could present a short entry. Else a bounce from 2850 could be a entry for long. The targets for take profit are based on the key levels (plus day high, low from previous day, non-RTH high, low, etc…).
CME_MINI:ES1!
by mingjong
2