S&P 500 - test all time high after supply absorption on Friday?

Last Friday S&P 500 futures (ES)had an attempt to turn down but demand was observed at around 3320–3330 to support the price with a firm close, suggested supply absorption. S&P 500 should test all time high soon.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 10 Aug 2020 trading session. In this video, I am going to show you the market recap on the last session and potential trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later.

Check out my daily market analysis video on last session if you haven't in order to better relate to the market recap and the trade review.


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

Key levels - Resistance: 3385–3400; Support: 3335-3345, 3300, 3273, 3230

Potential setup - Look for potential long opportunities after a test of 3335–3345.


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