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S&P 500 E-Mini Futures

Es Levels & targets July 29thExcellent follow through for buyers after fridays close. On Friday, one of my targets were 5528. We got there, then dipped. Right before the close, we got a failed breakdown of 5498 level which shot us right back up to 5528. Been basing up here since. As of now: Hold runners if you have them. 5519, 5502 are supports. Staying above keeps 5536, 5542, 5550-55 in play. 5502 fails, sellers retest 5483 area. Sellers are still in short-term control, and will stay this way until 5550-55 reclaims. Until then, all longs shall be treated with small size and high caution. Be very aggressive with profit takes level to level in this scenario when longing.
CME_MINI:ES1!
by ESMorg
S&P500 Bottom of the 8-month Channel. Strong buy signal.The S&P50 index (SPX) broke on Wednesday below its 1D MA50 (blue trend-line) for the first time since May 06 and yesterday touched the bottom of the 8-month Channel Up pattern that started after the October 27 2024 market Low. Technically we are on the most optimal buy level on the medium-term and this is possibly the reason that the day has started on a bullish note. The 1D RSI is at the same time at 40.00 for the first time in 3 months, so slightly into the long-term Buy Zone. As long as the 1D MA100 (green trend-line) holds, we will be bullish, targeting 6200 (below a the +28.56% mark, which was the % rise of the previous Bullish Leg). If the price breaks below the 1D MA100, we will short up to the 1D MA200 (orange trend-line) where we will buy again heavily for the long-term (same Target). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot
2
ES Levels & Targets for July 22ndPlan for Monday: supports are 5542-44 (major), 5535, 5528 (major), 5519, 5511, 5498-5500 (major), 5491 (major), 5484, 5474 (major), 5467, 5457 (major) It should go without saying, as I have emphasized since Wednesday: Bears are still in control until we see a significant reclaim of key breakdown points from last week. Hopefully, last week served as a valuable lesson in trading downtrends, as these skills have likely dulled over recent months. When bears are in control, all long positions will struggle, regardless of their apparent strength, and follow-through will be weak. Attempting to catch sustained bottoms is as useless as trying to pick sustained tops during an uptrend. While there are opportunities for gains on the long side, they won't last or lead to a squeeze until ES recovers some major resistance levels. For Monday, these will be 5568, and 5604 (the big one now). In terms of supports, 5542-44 is first down, and we already tested it and defended once Friday, making it weaker for Monday. I won’t be buying this again personally. If we flush it and reclaim though, it may present an option to add since this lvl hasnt trapped shorts yet. Below there, we sell again to 5528. I’d be interested in trying a small size long here. Could it fail? Of course, but that is just the cost of business when trying to long in downtrends. If that goes, I am not interested in longing again until 5498-5500, and a failed breakdown of the July second low at 5502 would be quite attractive. Resistances are 5552, 5560, 5568-66 (major), 5575, 5581-85 (major), 5588, 5598, 5604 (major), 5611, 5617 (major), 5621, 5632-34 (major). If buyers reclaim 5568-66 on Monday, we will probably squeeze. 5604 may have another dip left in it if we get there (though this is already very well tested), and the 5630-32 area also is likely to produce a dip on the backtest. Buyers case: sellers control for now obviously and there is no “buyers case” until they do something to tell me otherwise. There are many overhead resistances that must reclaim now to build back a legitimate buyers case (5568, 5604, then 5630), with 5568 being first up. There may be a long available above this. But you will have to read the action in real time. As always, one does not want to rush into it especially if we dip substantially first (like crash to 5528 early on Monday). You want to see some acceptance first, then perhaps 5569 would represent a long. If buyers are very motivated, this would send us back to 5604, dip there, then run back to 5630 which is a huge resistance. Level to level profit takes though as always. Do not bank on any long working for more than a level. Sellers case: The bear case is the default case. For Monday, this resumes on the failure of 5542. Check my July 19th plan on these type of trade setups. 5542 has been tested once already, so shorting below is slightly derisked now, but ideally I’d want to see one more test/failed breakdown, then 5540 would trigger us down. Will have to read the volume in real time. 5528 fail is also a possible attractive short, but I’d definitely need a bounce here first/failed breakdown, then short a little below. Generally, after three days of "short the pop," sellers still have control. This trend will inevitably conclude like every dip does, with a violent short squeeze. For that to happen though, buyers need to reclaim some major resistance levels. My outlook for Monday is that if buyers can defend 5542 (and if we do dip, it should be a quick flush to 5528 then recover), we can attempt another relief pop to 5585, 5604+. If 5528 fails, we are likely heading sub 5500.
CME_MINI:ES1!
by ESMorg
Keep It Serious Simple (S&P and Nasdaq Correction Levels)A quick video to summarize the hours and hours of live sessions I run each and every week. Everybody is scared and nervous when the market is falling because bull market geniuses love to see ATH's every single day :) I see simple wave structure on S&P and Nasdaq. 5th wave completion and a likely ABC or 123 correction. S&P 7-12% correction area, Nasdaq 10-15% correction area. I'm not bearish, but I am hedged for downside pressure. If it never materializes, cool. But if it does, I would like to make some money and mitigate the risk. I'll do more of these day to day or week to week. You can find me in the trenches Monday-Friday. Happy Trading and Lots of Profits!!!
SP:SPX
by ChrisPulver
$ES top in?We got a large reversal today which makes me think that top is in for this cycle. As you can see from the chart, price went over resistance and closed back below it which is extremely bearish. From here, I think we'll see a move down to the first support at $4800, then I think it's likely that we bounce higher to make people think we're going to see another move higher, but instead of having a sustained trend, we'll roll over down to new lows. My base case is that we'll see the lowest supports at $2750-2900 before we see any sustainable bull market trend form. Let's see how it plays out.
CME_MINI:ES1!Short
by benjihyam
ES levels & targets July 19thPlan for Friday: supports are 5585 (major), 5575, 5566-68 (major), 5558, 5553, 5542 (major), 5534, 5527, 5519 (major), 5511, 5502 (major), 5491, 5482 (major). With the short idea at 5628 working so well today and bringing us down past 5585, I’ve decided to add a small long late day on the 5585 reclaim, seeing us put in a nice late day failed breakdown (Deja Vu from yesterday). In this case, we flushed the 1230PM 5590 low, then reclaimed, entering with part of today’s profits. As I’ve mentioned for two days now, I see sellers being in control still until buyers can conclusively reclaim some major resistances to turn that around, with 5630 being first up. Until then, all longs should be treated as high risk, high failure rate, and with small size. When bears are in control and ES is making new lows, I call these “knife catches” and they are inherently dangerous, in the same way shorting a new high in an uptrend is. From where we are now, 5585 is first support down, and this backtests the triangle shown in red. We’ve already worked this level quite extensively, it may have another test left in it though. If it does fail and we make a new low, the next major support down is 5666-68. While one could “knife catch” this, I’d rather see us flush today’s low, tag that zone, then reclaim to try a small long for a safer setup. Could this fail? Yes, bears are in control. Longs have been brutally spoiled now for weeks with every single long working, and now longs have to put a little more effort into where, and how one enters. If 5666 fails, I’d be looking at 5542 and 5519 as spots to try small sized longs. Resistances are: 5593, 5598 (major), 5608 (major), 5611, 5616 (major), 5621, 5630-32 (major), 5640 (major), 5646 (major), 5649, 5655, 5660, 5668 (major). Obviously the 5630-32 level is a big one from here. One could try shorting it on the backtest and it may produce a decent reaction. Personally, I won’t be taking this as I’ll probably still be long into it, and I am not a fan of flipping long to short in macro uptrends. Buyers case: Bears are currently in control, so 5630 must be reclaimed to give bulls their first technical "win" and shift the momentum back in their favor. For bulls, the goal tomorrow is for 5630 to be retested. Ideally, this retest would hold us above the 5585 level after today’s late-day failed breakdown. If there’s another low, it should be a brief dip below today’s low followed by a quick recovery. The bounce would then need to progress through 5608, 5616, and finally to 5630, which is a crucial level. A long entry is viable above 5630, but it requires patience and volume for confirmation and a pullback first, making it a more advanced entry. Sellers case: The sellers case is now the default until 5630 reclaims. There are a couple shorts available tomorrow. The best is on the fail of 5566. As I say often, these types of shorts below a support are called breakdown trades. My core edge is trapping retail traders with failed breakdowns, and the reason is this is an edge is the vast majority of break downs (80%) end in trap. Markets always trap before they move. Breakdown trades take great skill to execute, and even when done well by a trader who has mastered these setups, one should expect over 60% to fail (they are low win rate, high R/R trades. 2 or 3 in a row will fail, then the 4th will pay out huge). As always though, I don’t chase. I’d need to see a bounce/failed breakdown of 5566 first . Only after this takes place, would I consider short 5564 or so for a move down the levels. There is a higher risk short available on the fail of 5585 as well. Again I’d ideally want to see a bounce here first to remove the “trapping factor” out of the level, then short a little below it. You don’t want to rush into these. 5542 would be the magnet for this, but as always take profits lvl to lvl. In general, Today’s close is much like yesterdays. We had a day of selling, and bears remain fully and completely in control. My general lean is similar to yesterdays but at lower levels; as long as 5585 holds, bulls can try to pop to 5608, 5616, then 5630. If bears to take another leg down, it would be there (or even sooner if they are particularly motivated). If 5585 fails, we likely head down directly again.
CME_MINI:ES1!
by ESMorg
S&P500 The correction is over. Bullish trend intact.The S&P500 (SPX) has been rising steadily since our June 17 bullish break-out signal (see chart below) and despite this week's pull-back, the upward pattern remains unchanged: As long as it continues to be supported by the 1D MA50 (blue trend-line), we remain bullish with our Target intact at 5800, marginally below the 2.618 Fibonacci extension. On a side-note, observe the uncanny symmetry between the RSI structures of the Bullish Legs. We are now on a similar pull-back recovery formation as on the January 31 2024 and June 26 2023 short-term Lows. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US500Long
by TradingShot