S&P 500 start of bear market or pullback in a bull market?
Yesterday S&P 500 futures had the biggest slump together with the highest volume since the bottom in 23 Mar 2020. This is definitely a change of character of the uptrend since the bottom in March.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 12 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) based on a localised breakout 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 with the market recap and trade review.
Bias - down (Day trading); Up (long term)
Key levels - Resistance: 3120, 3180, ; Support: 3000, 2930
Potential setup - look for a test of the H4 down accelerated bar (around 3050–3120) and short upon rejection. Or to long upon reversal from the key supporting levels.
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 12 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) based on a localised breakout 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 with the market recap and trade review.
Bias - down (Day trading); Up (long term)
Key levels - Resistance: 3120, 3180, ; Support: 3000, 2930
Potential setup - look for a test of the H4 down accelerated bar (around 3050–3120) and short upon rejection. Or to long upon reversal from the key supporting levels.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
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