S&P 500 - no excessive supply in trading range
24 Apr 2020 recap -As mentioned previously in the S&P 500 market analysis (
ES1!
) after the down wave from 20–21 Apr, which is a change of character stopping the up move to at least a trading range (if not a reversal). Refer below if you are wondering:
There is no excessive supply after the down wave. So far, S&P 500 is able to overcome a few key supply zones and is at the resistance area close to 2885. It is possible for it to test the swing high at 2885. It is expected for S&P 500 to trade between 2715–2885 trading range.
Check out the video below for a complete walk through of the daily market analysis of S&P 500 futures for 27 Apr 2020 trading session.
Bias - down
Key levels - Resistance: 2885 (swing high),2915 Support: 2830, 2800, 2750, 2715 (swing low)
Potential setup - Should S&P 500 test the swing high near 2885, look for a rejection from that area to initiate short entry, with a stop above 2920. First take profit target at 2830 and other key support levels.
ES1!
) after the down wave from 20–21 Apr, which is a change of character stopping the up move to at least a trading range (if not a reversal). Refer below if you are wondering: 
There is no excessive supply after the down wave. So far, S&P 500 is able to overcome a few key supply zones and is at the resistance area close to 2885. It is possible for it to test the swing high at 2885. It is expected for S&P 500 to trade between 2715–2885 trading range.
Check out the video below for a complete walk through of the daily market analysis of S&P 500 futures for 27 Apr 2020 trading session.
Bias - down
Key levels - Resistance: 2885 (swing high),2915 Support: 2830, 2800, 2750, 2715 (swing low)
Potential setup - Should S&P 500 test the swing high near 2885, look for a rejection from that area to initiate short entry, with a stop above 2920. First take profit target at 2830 and other key support levels.
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