E-Mini S&P 500 Futures Pre-Market Breakdown for Thursday April 08, 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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This is a good day to study.

  • Higher probability and likely to be shallow test: Short initial key resistance if we do not see an open-drive up and if buying weakens. Will be expecting buyers to be over-extended in short-term from overnight action and will expect some liquidation off here for push down to initial key support.
  • Long initial key support if selling is weak. Looking for gap fill and then reversal. Watching yday's high. More likely than not to be deeper test (order-flow key here).
  • Higher probability: Long the pVpoc/4067s area if we are seeing an impulse down from the open. Based on recent action and the buying pressure that is, I don't expect to see this area just sliced right through. After a push back above initial key support, if there is intraday support as confluence, there may be another long on a pullback. Would want to see strong buying reaction off the 4067s before that though.
  • Short flip of the 4067s. Buyers have lost control. Will expect liquidation as the pattern now becomes failed breakout.
  • Long the 4050s zone. I won't be standing in the way of a falling knife, but i will be watching this area closely for a reversal. Likely to be deeper test.