S&P 500 possible inflection point to rally up further

The 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.