ES1! SPX500USD 2023 MAY 08 WEEK
E-mini S&P 500 FuturesCME
Description
⋅ CME_MINI:ES1! ES1! SPX500USD 2023 MAY 08 WEEK
Are we seeing the bearish ascending triangle already?
As with NQ, tendency to take rotational trades has diminished.
Scenario Planning:
1) Rejection short at 4175 / 4068
2) If market decides to spring a surprise, long on test of break of
4198 and finds support
Volume Analysis:
Weekly: Ave vol up bar close off high = minor weakness
Daily: High vol narrow spread S>D bar = weakness
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4198 4068
3928 3788
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Have a profitable trading week.