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S&P 500 E-mini Futures

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ES1! trade ideas

S&P Mini Very Interesting PatternAll the noise about rates and inflation has been confusing to every long term investor. This S&P mini chart pattern developing is very Interesting. It has multiple defining patterns. #1 it is now in a down turn and must convincing break above the downturn line to turn bullish shown Or #2 If it bounces off downturn line and drops from here it would create a potential Head and Shoulder bottom also could be bullish assuming it does not make new lows or #3 If it bounces off downturn line and sets new low it would be signal we have more on the decline or Bearish The time has finally arrived when chartist like me will final see a new trend bullish or a continued bearish trend.
CME_MINI:ES1!
by jdouglas020
1
Navigating Today's Market Trends: How to Read the Signs Indices Futures Let's start with the indices futures. Gravity is pulling towards the rising trendline, which is a healthy move for the market and its indicators. The RSI for the NASDAQ on the daily chart was over 82, a level not seen since January 23, 2018. Similarly, the SP500 futures are taking a short pause, much like in March 2024. It's moving clearly within a rising wedge, needing to bounce off the ascending trendline to continue its upward trajectory.
CME_MINI:ES1!Long
by ChartScope
2024-06-24 - priceactiontds - daily update - sp500 e-miniGood Evening and I hope you are well. sp500 e-mini futures comment: Expanding triangle on the 1h tf and that’s a form of a trading range. Big up, big down, big confusion, more sideways likely. 5530 is the most important price currently at about the middle of the range. Did the bears do enough damage today to expect follow through tomorrow? I don’t think so. They barely made another lower low. Selling down here is a bad trade. current market cycle: Max bullishness & peak bubble territory. Literally the peakiest of the peaks. Mother of all bubbles. Will end over the next weeks. —unchanged key levels: 5500 - 5600 bull case: Bulls tried and failed at 5558 which qualifies as a decent lower high. Bulls need to stop the selling above 5500 or risk trading back down to the daily ema around 5460. They still see this as a minor pullback in the huge bull trend. Their problem is, that bears printed 3 consecutive bear bars now and broke the first bull trend line. It’s a bad buy here unless they get strong momentum going tomorrow. Invalidation is below 5500. bear case: Bears doing good and trapping overly eager bulls in buying everything but the selling is not strong enough to question another retest of the highs. Until bears trade below the daily ema, they will be quick to exit shorts that lose momentum. Their next target is 5500 and then 5470, where we should hit the daily ema. If they also somehow manage to get below that level, the bull trend line will be tested next - around 5420ish. Invalidation is above 5560. short term: Neutral between 5500 - 5540, bullish above and bearish below 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. —updated weeks to months. current swing trade: None trade of the day: Strong buying on bar 36 which was a decent buy since bears could not get below 5525. Triangle bar 37-47 and bar 48 was a good entry bar for shorts. Strong break below the triangle with follow through. Could have closed shorts on bar 56/57 because 4 consecutive bull bars but they had big tails above. If you held, could have been 100+ points.
CME_MINI:MES1!
by priceactiontds
ES1! morning updateLots of ways to interpret price action off low of 4963.50. This count interprets price movement as a regular flat. From low of 4963.50, there are two impulse waves (red and orange ellipses) with correction in between forming the ((A))followed by a correction (yellow ellipse) forming the ((B)). From 5022.25, you have a large five-wave structure forming the ((C)). The contract change (green ellipse) adds a wrinkle in interpreting the count of wave (5) of ((C)). Regardless of how you count this, I think that price will most likely find its way towards the 5000 level again, and either bounce off it (bulls) or continue past it (bears).
CME_MINI:ES1!
by discobiscuit