S&P 500 backup action is completed — Ready to mark up? Daily Market Analysis

S&P 500 jumped 0.7% near the swing high at 3020 during the London session while investors are optimistic on reopening of economic and possible Coronavirus vaccine.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 27 May 2020 trading session. In this video, I am going to show you the market recap on the last session, 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 on yesterday if you haven’t in order to better relate to the market recap in today’s video.

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

Key levels — Resistance: 3050, 3080; Support: 2980 (resistance-turned-support and day low from yesterday), 2910

Potential setup — look for a pullback to the support area near 2980 or a deeper test at the breakout bar around 2960–2980 to long. Also possible long entry after breakout of the swing high at 3020 could be considered too.

Click below to subscribe my weekly stock trading / investing ideas in email for free:

https://hot.wishpondpages.com/ideas/ (Yes, it is free)

Charting platform: Create a free account→ www.TradingView.com

Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.