Tag Archives: SP500 Resistance Levels

Emini Futures Trading Analysis- 28Feb2020

Posted on by

spx500-futures-daily-chart-analysis4-28feb2020

Hello Folks, the S&P500 futures have closed at 2989.25
Today’s Range: 2854.50 – 2995.50

It was another wild day in the market, and 2850 level got tested intraday.
Just last week, the futures hit 3395 (nearly 3400) and to see 2850 level
was almost unreal experience, with 550 points fall in 1 week.

But today’s closing on both S&P500 Emini futures (ES) and Nasdaq Emini
futures (NQ) is encouraging. Its the first time in last 8 days that the
futures showed some strength, and today’s price action by end of the day
was very good. I almost forgot that the futures can move up with strength,
because for last one week, the futures were unable to break out of even
minor intraday negative patterns, which the futures usually take out in
within 1-2 attempts. By end of today, the futures have shown strength.

The immediate upside target for S&P500 futures is 3050-3060, which is the
200 day simple moving average (SMA), but its difficult to create a trade
with a Stop loss, because the futures can fall 50-100 points and then go
up. The only tested support currently is 2850, which is 140 points below,
very far away. And 20-30 point stop loss won’t work in current market.

There are a couple of Optional Trades that I am evaluating.
(a) Buy at 3010 for Target 3060 with Stop loss 2950
(b) Buy at 2970 for Target 3060 with Stop loss 2920

I will try to construct an Optional Trade and share with you by tomorrow
evening, after completing my market analysis. Thanks. Continue reading →

Emini Futures Trading Analysis- 21Feb2020

Posted on by

spx500-futures-daily-chart-analysis1-21feb2020

Hello Folks, the S&P500 futures are at 3357.25
Today’s Range (so far): 3345.00 – 3369.00

S&P500 Futures Technical Analysis: The futures are trying to find support below 3350 and have bounced back from 3345 early today morning, and the momentum indicators reversing from lower levels, which is a positive sign. At the same time, the futures are facing resistance at 3360. The futures are likely to go up and retest 3375-3380, where there is major resistance. So, we can use this fact to get back into long trade in a small way, because we have already exited at 3380 in the previous trade.

spx500-futures-hourly-chart-analysis1-21feb2020

Our S&P500 Futures Trading Strategy is to stay long above 3340, which is was the reversal point yesterday. So we will continue to buy the corrections, which has worked successfully in the entire uptrend since Oct 2019. The absolute stop loss on all long trades is 3320, below which the uptrend will break. The next major target is 3420, which is still on. Continue reading →

Emini Futures Trading Analysis- 14Feb2020

Posted on by

spx500-futures-daily-chart-analysis1-14feb2020

Hello Folks, the S&P500 futures are closing at 3380.00
Today’s Range: 3365.50 – 3388.00

The futures have been testing 3360-3370-3380 levels since yesterday.
There is a strong resistance at 3380-3385, which can give 20-30 points
correction back to 3360-3350. So a clean trade may come above 3390.

Different short-term indicators are showing different views, which makes
it difficult to do take up a take trade with high conviction.

The weekly and monthly charts are bullish, and 3400-3420 is our next
upside target. 3300 is the absolute stop loss on any long trade now.
So we will look for better setups in the coming week. Thanks.

spx500-futures-15min-chart-analysis2-14feb2020

Emini Futures Trading Analysis- 13Feb2020

Posted on by

Hello Folks, the S&P500 futures are at 3380.00
The futures corrected sharply from 3380 last evening, and tested 3350
early today morning, and have bounced back to 3380. This is bullish.

These moves are not reliable trade setups, because key resistance levels
are being tested, and 10-15 point stop loss can be gone rapidly.

[Bonus Trade]
“Buy at 3368 for Target 3380 with Stop loss 3360”
The above trade has 12 points gain with 8 points risk.

We will wait for better setups for doing General or Optional Trades. Thanks.

Emini Futures Trading Analysis- 10Feb2020

Posted on by

Hello Folks, the S&P500 futures are at 3336.00
Today’s Range: 3303.50 – 3341.50

The futures had a volatile weekend, and they went down till 3303 early today morning, in pre-market hours. Now at 3336, the futures are trying to move up again. But there is a strong resistance at 3350-3353 level.

There is significant uncertainty in the market coming from Coronavirus. Its still not controlled or cured, and some of the worst case scenarios of the virus spread are running into millions of patients worldwide. So the risk on global economy from Coronavirus is very real and significant.

The non-stop fall in the price of Crude Oil (below major support level of $50 per barrel) is an indication of the significant fundamental risk.

We have made 25 points in the first General Trade. So we will be cautious, and will take a new trade if a solid setup comes. We may still do Optional Trades on reasonably good setups using fewer contracts. As of now, the market looks uncertain, and 10-20 points can be gone within 10 minutes. We have no new trade as of now. Thanks.