S&P 500 futures daily market analysis with trade setup reviews

S&P 500 futures rose 0.6% during London session while investors waiting for ADP employment data to be released later.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 6 May 2020 trading session. In this video, I am going to show you the market recap on yesterday’s session on Tuesday including a potential trade setup in M3, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later.

5 May 2020 recap — S&P 500 broke the non-RTH high formed in the London session at the opening bar, followed by testing the resistance area at 2880–2890, which was mentioned in my daily market analysis yesterday. There was no significant reaction until the sell-off happened at the last hour bar with increasing supply.

Refer to the video for a classical short entry after a break below followed by inability to rally up.

Yesterday last hour sell-off at resistance level of 2890 was accompanied by increasing of supply. I anticipate S&P to spend some time between 2840–2900. A break above 2900 should see S&P 500 to test higher target at 2960.