E-Mini S&P 500 Futures Pre-Market Breakdown for Monday April 05, 2021

Today’s E-Mini S&P 500 futures (CME: ES, MES) pre-market analysis.

Charts

Zones

Zones file

Trade ideas I am looking for today (not investment advice)

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Without a pull-back, there's no long opportunity today.

  • Higher probability: Short initial key resistance or poke above. If I see aggressive buying at open, will wait for pull-back below initial key resistance for a short (likely to be a shallow test).
  • Long the 4020s on clear selling drying up. Will expect buyers to push off here for new all-time highs. Will exit if sellers holding price against this zone.
  • Higher probability and likely to be a shallow test: If we see aggressive selling from the open, will short flip the 4020s support zone, expecting liquidation break down to the 4000s.
  • Long initial key support if I see selling drying up and the market balancing. Don't want to catch a falling knife here. Likely to be a deeper test.
  • Likely to be a deeper test: Long the 4000s if I see selling drying up. Will expect buyers to reverse to the day's VPOC for balancing and potentially push up to the 4020s.
  • Short break below the 4000s on clearly strong selling. Will be targeting the 3983s.
  • Higher probability and likely to be a deeper test: Long the 3983s for quick reversal up. Will hold this as long as upside momentum remains.