S&P 500 decreasing supply with no follow through to the downside

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S&P 500 futures (ES) had a narrow range on yesterday with no commitment to either direction. That was accompanied by lower volume. S&P 500 still stays above the axis line at 3180, suggests a possibility to have a rally to test the swing high resistance at 3230.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 17 Jul 2020 trading session. In this video, I am going to show you the market recap on the last session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later.

I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.

Bias - neutral (Day trading); bullish (long term)

Key levels - Resistance: 3230, 3310; Support: 3170–3180, 3105, 3060–3080

Potential setup - Look for reversal signals around the key support or resistance levels, 3180-3190 and 3230.



Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.