As a new trading week begins I would like to start by taking a higher time look at the charts.
S&P 500 (ES) Technical Analysis
The S&P 500 (ES). The benchmark of American business, a barometer of global economic sentiment. 1 Its daily movements ripple across markets worldwide. Are you ready to understand the underlying forces driving these shifts? Here, we provide your daily blueprint, meticulously dissecting the S&P 500 through the lens of technical analysis. We move beyond fleeting headlines, focusing on the language of the charts – identifying critical patterns, analysing momentum shifts with key indicators, and pinpointing pivotal support and resistance zones. Whether you’re managing a portfolio, trading the index, or simply seeking a deeper grasp of market dynamics, our daily technical insights offer a clear and focused perspective. Equip yourself with the knowledge to interpret the S&P 500’s daily narrative and navigate the market with greater confidence. Let’s unravel the market’s story, one technical analysis at a time.
Taking a higher time frame view, we can see the ES is still in a bullish uptrend since the lows
Yesterday ES retraced the bullish opening candle, took pdLow and the liquidity at the range lows. We can now conclude
Today the ES opened with a strong impulsive candle to the upside which have currently retraced to the 50% level
From the below 30m chart we can see the ES has been down trending since the daily open with the
While April saw a strong sell off, it has an equally strong buy back with price now above the April