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alleytrader

ES, SPY, day tradng for May 28th 2020

E-mini S&P 500 Futures (Jun 2020) (CME_MINI:ESM2020)  
alleytrader Updated   
CME_MINI:ESM2020   E-mini S&P 500 Futures (Jun 2020)
Support and Resistance ES S&P 500 E-Mini Futures SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) S&P 500 (SPX500)
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supportandresistance es es1! spy spx spx500
ES, yesterday was a price discovery day and had very little balance c/w a strong v bottom. The V bottom acted like a lot of short covering on the run up. the over night session did provide a good balanced action in the Es but not bad lower balancing in the NQ. For me to think we have reached a temp top would like to see a day session blow off and so far we have only had higher price acceptance, This means the top of the range from yesterday is a important level. Additionally the lower level of 3028 is also important info going forward. I will be watching these 2 areas close and looking for opening reaction to see if I can find my way for a decent day trade.

Todays action will be talked about live in the trading room.
Comment:
right at today's top bought 1dte spy puts, have now closed enough of them that even if what I hold go to 0 tomorrow will have a 50% gain. This is the type of stuff we do in the trade room.
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