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S&P 500 E-mini Futures

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ES1! trade ideas

ES meets January Elliot Wave CorrectionAn Elliott Wave combination correction is a complex corrective pattern in Elliott Wave Theory, typically formed when simpler corrective patterns combine to create a larger, more intricate structure. It consists of two or three corrective waves labeled W, X, Y. Combination corrections aim to extend and complicate the corrective phase, often seen in sideways or consolidative price action. They provide a way for markets to consume time and create balance before resuming the primary trend. Key Characteristics: The larger trend of the correction labelled as W,X,Y consists of 3 corrective wave structures being 1 flat, and 2 following zigzag structures. Each major corrective structure ends with a 3 wave impulse move to the downside, followed by a 2 wave corrective structure before resuming the trend. You can see more detail on EW theory related to elliot wave combination structures on the website: www.elliottwave.com What catches my attention for this up coming week is a potential end to the corrective structure on the ES (SP500 Futures), erasing all the markets gains made from Nov 5, 2024 onward. It would be an interesting location to look for potential long trades in the market.
CME_MINI:ES1!Long
by afurs1
1
New additional ES/SP500 AnalysisAlternative and more likely scenario to previous ES/SPY bottoming ideas: #1 ES/SPY has been traveling in downward channel. Seems as if it has made 3 - 4 top of channel/bottom of channel trips and potentially may be missing completion of this last rotation down, which ignites the move up or may exit the channel with sideways move which would provide idea number #2 ES/SPY will continue to test the 200 MA breaking above and below it. (Potentially one of the candles may make a big move down and bough up providing a big flush/shake out and subsequent large wick. Possibly not required). Eventually forming a multiple daily candle bottom. Likely 2-3 more candles before starting its ascent higher. Personally I'm already long with small (red!) positions with ES micro mini, SPY and NVIDIA calls. More pain and waiting likely ahead and ready to make small additions waiting for the strong move up. Risk management required. As with every chart analysis viewing all possibilities - I could see potential additional 100 - 130 point drop
CME_MINI:ES1!Long
by tbuckle
S&P500 & Bitcoin Dancing Off Key SupportsBy Eric Lee , Sales Director of Phillip Nova The E-mini S&P 500 index futures are currently exhibiting a symmetrical triangle formation, a technical pattern that typically indicates a period of consolidation before a potential breakout. The price is testing the lower boundary of this triangle, suggesting a possible breakdown. Additionally, the index is hovering near the 200-day moving average (MA), a critical long-term support level. A break below this MA could signal further bearish momentum, with the next significant support level based on the triangle formation around 5550. The correlation between the S&P 500 index and Bitcoin has been a topic of interest, as both assets have shown periods of synchronized movements, particularly during times of market stress. The recent drop in Bitcoin's price may be indicative of broader market sentiment, potentially foreshadowing a breakdown in the E-mini S&P 500 index futures. If Bitcoin's decline continues, it could exacerbate selling pressure in the equity markets, leading to a more pronounced downturn in the S&P 500 futures. Traders should closely monitor these developments, as a confirmed breakdown could lead to increased volatility and a test of lower support levels.
CME_MINI:ES1!
by phillip_nova