S&P 500 supply presence with broadening top pattern — Daily Market Analysis

The Dow Jones futures and the S&P 500 fell 0.6% during the London session. Both indices are still above 25000 and 3000 while investors are waiting for the Trump’s conference between US and China, which created market uncertainties.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 29 May 2020 trading session. In this video, I am going to show you the market recap on the last session, plus two potential trade reviews in M3 (entry, exit and the rationale behind), the bias going forward, the key levels to pay attention to, and the potential setup for the US session later.

I encourage you to watch my daily market analysis video yesterday if you haven’t in order to relate with the market recap and trade reviews.

Bias — down (Day trading); Up (Swing trading)

Key levels — Resistance: 3030, 3080, 3135; Support: 2980 (resistance-turned-support), 2966 (swing low)

Potential setup — look for a pullback to the support area near 2980 to long. Or look for a test of 3030 where support-turned-resistance to short.