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S&P 500 E-mini Futures

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ES1! trade ideas

ES Ascending WedgeES has a steep ascending wedge here on the 15m that is heading straight into trendline resistance. This trendline above is critical, it is the uptrend from the April lows that was recently broken below. This is the first retest, and with the wedge I expect at least a small rejection. I'd say it's likely we'll see a big rejection, but if we don't I'll probably be looking for longs tomorrow. This is a critical moment here, everything is on the edge and I think this week could determine direction for the next 3-6 months.
CME_MINI:ES1!Short
by AdvancedPlays
2024-07-31 - priceactiontds - daily update - sp500Good Evening and I hope you are well. comment: The bull trend line around 5430 held and market bounced for 150 points since yesterday. The 50% pb from this recent sell off was 5578 and today’s high was 5588, while closing at 5556. Tells you that market is respecting the 50% pb and could not close the month above it, which is good for the bears. Where does this leave us going into August? Absolutely neutral imo. Bear trend line is broken and the big bull trend line held. Bulls want a retest of 5700 and bears to stay below the 50% pb and sell off again, because at this angle they have a decent channel downwards to 5000. My channel on the chart was drawn last week. current market cycle: Trading range until 5500 is clearly broken. key levels: 5400 - 5600 bull case: Bulls had the expected bounce and yesterday I said the selloff after hours was most likely a bear trap. So it was and bull want to keep the momentum going and closing the bear gap to 5640 next. If they can close that, they will most likely also retest 5700 but as of now, they could not close above 5600 and are under the 50% pullback. Had they closed the month above 5600, I would be much more bullish going into August. Invalidation is below 5540. bear case: Bears kept it below the 50% pb, around the daily ema and technically bulls just got a breakout retest of 5560. The selling into today’s close was strong enough to not expect an easy melt up through 5600 tomorrow. Bears also have going for them, that with this lower high, they have formed a proper channel, which could lead us to 5000 over the next months. 5570ish is the current price and the worst place to trade. Can go either direction and I will wait for strong momentum to either side. Invalidation is above 5600. short term: Neutral af. medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. Will update this time and price wise over the weekend but I expect to at least see 5000 over the next months in 2024. —unchanged
CME_MINI:MES1!
by priceactiontds
ES with a YUGE green candle. See you at new all time highsThe bullish strength here is evident from candle spread, volume price BOTTOMS (July 19, 25, 31 Daily candles) With the July 25 candle showing the wick (wycoff 'spring') Can't be taking shorts at the bottom that's for sure, but you also don't wanna be shorting every new all time high. Best route? Probably something that has more patience (expiry if options) and playing the long side Weekly chart also shows strength, from the similarity to Jan2 and Jan8 Weekly candles, to the gap fill we just did. The trend is your friend as they say.
CME_MINI:ES1!Long
by sully357
Combined US equities - D-DayYesterday, the Gap reopened, after an early week stall on Monday. These last two candles have top wicks suggesting selling pressure to keep the gap open. Thing is, I would have preferred to see a more solid down candle. Meanwhile, this indecision is biased to the downside from indicators and longer term chart (week) point of view. The MACD is in bearish territory and the VolDiv is bearish too. Price has been supported and one of two things will happen: 1. More probable is the volatility spike and markets breakdown fast as they are overdue; or 2. the less likely sudden extreme bullish rally, at the risk of being a blow out top or near term double top for a bigger bolder downside drop in a few months. Given these, and other supporting charts for a probable downside, I would watch the support breaks very closely.
CME_MINI:ES1!Short
by Auguraltrader
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