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Esfutures

Frustrating the bullsAs expected yesterday the morning session had a positive tone, which gave way to strong selling late afternoon. $SPY close down 1.03%. However, bulls are unfazed and $ES futures are pointing to about 1.2% higher open. Bulls are smelling victory seeing the resistance level so close but have been frustrated the last two days. $ES futures inventory is almost 100% long in the ON session. A strong liquidation break to the downside is a strong possibility in the morning session.
AMEX:SPY
by insyyte
$SPY : Close but no cigarMost $SPY gains were made yesterday before the day session began. During day trading, $SPY gains were limited and traders took profit at the close. We have seen this movie before. $ES futures are down 0.42% as of now. European car sales fell 76% from a year earlier in April. Powell and Mnuchin will testify before the Senate banking commitee today so a positive tone in the early going can be expected. The range in chart persists. A test of rising 20DMA and then a rebound will be bullish. Expecting a strong directional move when the price moves out of the range convincingly.
AMEX:SPY
by insyyte
$SPY : TA liquidation break$SPY got liquidated yesterday late afternoon and lost -1.99% to settle at 286.67. If the weakness is real then a follow through day should occur. $ES futures have been drifting higher all night and are up 0.6% (17 handles) as of now. The equity put/call ratio is hovering aroung 0.5, which calls for caution. Today investors await Federal Reserve Chairman Powell’s comments re the outlook for monetary policy. Words suggesting more stimulus plans can propel $SPY higher, but now it has to overcome 288-290 band which was support till yesterday and has the potential to become resistance now. $SPY is below 5 and 10 day SMA's, but higher than 20 DMA, suggesting a short term market hiccup. Signals are mixed so my stance is neutral.
AMEX:SPY
by insyyte
1
$SPY : Grinding up$SPY barely closed positive by 0.02% yesterday. Tech heavy Nasdaq was again strong as the index is well stacked with companaies that have increasing revenue stream from digitization in the coronavirus economy. $ES futures are up 12 handles as of now and are pointing to a higher open for $SPY. It is likely that the 292.93 at 61,6% retrace will be tested and perhaps taken out today. Volatility is getting lower which also supports higher prices. $SPY support is 288-290 and resistance at 293, then 297 and 300. A strong move is imminent as the prices getting squeezed tight. Going with the flow whichever way it breaks.
AMEX:SPYLong
by insyyte
$SPY : Waiting for a catalyst$SPY was perking up yeserday morning but finshed down -0.68% as afternoon sellers overwhelmed. $ES futures are again higher by 38 handles as of now. However, the pattern has been higher in the morning and sell-off in the afternoon for the past 5 out of 7 days. Economic conditions are dismal. FED has injected massive liquidity and fresh addition of liquidity can be the catalyst to propel $SPY higher. Broader range is 280-293 while narrower range is 284-288. Going with the break when it happens.
AMEX:SPY
by insyyte
1
$SPY : Absence of FED bazooka$SPY support is at 280 and resistance at 293. $SPY is struggling to get past 61.8% level of the sell-off but has not yet triggered a sell signal. Talk of progress in treatment or vaccine for Covid or a supportive tweet can jolt the market from is current lower drift. $SPY needs a bazooka from the FED to keep moving higher. But absent that stimulus #SPY is adrift. If that was not enough US is threatening further tariffs on China. All this contributes to a sour mood at the open in about 45 mins. $ES futures are down about 2.1% as of this writing.
AMEX:SPY
by insyyte
$SPY : Searching for direction$SPY jumped yesterday above the gap resistance with healthy gains in the other markets especially the small caps ($IWM) again putting up a stellar gain of 4.92%. $WTI oil is somewhat stabilizing which is supporting the beaten down energy names and banks who loan to this industry. Looking for $SPY to digest its gains at this level. $ES futures are down -18 handles after horrendous European data. On the other hand tech heavy Nasdaq $NQ futures is up about 12 handles on the heel of perceived good earning from the likes of $FB, $TSLA, $MSFT, etc.
AMEX:SPYLong
by insyyte
$SPY : Grinding higher on low vol even as #WTI tanks$S{Y 500 managed a minor breakout yesterday above the April high as it slowly grinds it way up to the 0.618 retrace tgt of 293. There is immediate resistance at gap above but $ES futures are again trading about .33% higher from yesterdays close. $SPY is now above its 50-day MA and if it takes out the gap resistance then 293 target remains viable. $WTI June futures contract crashed by 25% yesterday. Currently $WTI is trading down another 20% from yesterday. Small Caps (iShares Russell 2000 ETF (NYSE:IWM)) rocketed up 3.96% yesterday, by far the greatest out performance in indices. When #OIL gets in gear with the equity indices bullishness $IWM small caps will likely outperform $SPY substantially.
AMEX:SPYLong
by insyyte
S&P 500 fut. - possible near end of correctionLooking at the H4 chart of the futures contracts on the US S&P 500 stock index, we may see a potential correction pattern. The last rebound on the US stock market reached about 50 percent of the first wave of declines that was triggered by the spread of the epidemic first in Asia and then on subsequent continents. According to the Elliott wave theory, the entire rebound looks like the ABC simple correction. Wave C could currently consist of five subwaves. Therefore, if the correction ends in the area of 50%, then there may be a return towards the lower limit in the upward channel. However, if the line through the lows were to be broken, another downward impulse could accelerate. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CME_MINI:ES1!
by Daniel_Kostecki
1
ES - SPX/SPY premarket analysis Hello traders, Description of the analysis: Currently there is considerable nervousness on the markets. The VIX index is at upper values of about 23 points, which is the area of resistance. In the analysis, I highlighted important support for a possible turnaround reaction. However, it will depend on how traders take the sentiment setting after the beginning of the trading session. Personally, I am cash in all my positions, waiting for the markets to calm down. About me: Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (700 000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades. Join us today and get your Wall Street Way Jacob Kovarik
CME_MINI:ES1!
by Jacob_Kovarik