E-Mini S&P 500 Futures Pre-Market Breakdown for Wednesday April 07, 2021
Today’s E-Mini S&P 500 futures (CME: ES, MES) pre-market analysis.
Trade ideas I am looking for today (not investment advice)
- Higher probability and likely to be shallow test: Short initial key resistance first test.
- Higher probability: Short on buyers struggling with the 468s.
- Long initial key support if selling dries up. Likely to be a shallow test.
- Higher probability and likely to be shallow test: Short on flip of initial key support on strong selling push below. Don't want to see strong buying on break below when price pulls back.
- Long at the 4020s if selling clearly shuts off. Lower probability. Has to be clear that selling is shutting off.
- Long at the 4034s/4009s if selling shuts off. Long at the 4009s is higher probability. Will expect deeper test on both.