S&P 500 — Spring with sign of strength rally or false breakout? Daily Market Analysis

The Dow Jones futures and the S&P 500 rose 1.4% (26600) and 1% (3140) respectively during the London session while investors awaiting the latest American jobs figures.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 5 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus trade reviews in the M3 timeframe (including entry, exit and the rationale behind) based on effort vs results followed by a reversal setup. Going forward, I will cover the bias, the key levels to pay attention to, and the potential setup for the US session later.

Currently ES is within the resistance zone around 3135. It is not uncommon to have a reaction around the level.

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

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

Key levels — Resistance: 3135, 3210; Support: 3130, 3095, 3065, 2980 (resistance-turned-support)