S&P 500 - Confirmation is pending + supply absorption case study

There was no follow through to the downside in S&P 500 futures (ES) yesterday. Last hour breakout to the upside created another opportunity for S&P 500 to reclaim the swing high near 3145, similar to 20 Jun 2020.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 26 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus a potential trade review in the M3 timeframe (including entry, exit and the rationale behind) in the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.

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: 3100, 3080, 3180, ; Support: 3010, 2980–3000, 2925

Potential setup -Look for a test of the last hour bar (3040–3060) from yesterday or the consolidation area (3010–3040) and long on reversal.