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The Definitive Index for Next Level Market Moves

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The S&P 500 Index is considered the definitive index for the US stock market. 

This is why we keep a keen eye on the index and its futures contract (ES). 

And right now, we are seeing the potential for a bullish performance for this market leading index.

So, let’s take a look at capitalizing on what we see as a potential trade developing in the ES and review what’s happening inside the charts…

The S&P 500 (ES) Trade Setup

Here’s how the monthly chart shows the potential buy trade in the S&P 500 Index futures contract (ES) is setting up…

S&P 500 Index Futures Contract (ES) Price and Technical Analysis – Source: TradingView

The S&P 500 index Index futures Contract (ES) monthly time frame is in an up trend, making higher highs and higher lows.

The market is at a low price hitting a known level of U-turn and just hit a down Fibonacci extension. 

All signs are showing a bullish push should take place. If the market closes in the sell zone, then I would expect the sellers to keep pushing the market down.

However, the monthly time frame has not closed yet, and with the monthly down Fibonacci extension hit I am expecting a bullish push back above the known level of U-turn before the monthly candlestick closes.

The Bottom Line

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas. 

This includes alternative assets like digital currencies that could set up a side gig for traders, as I discuss below.

And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!

Keep on trading,

P.S. I have been teaching more and more traders how to make their own trading accounts work so well that they can effectively become a side job with plenty of regular earning opportunities, particularly in digital currencies like BTC.
To learn how this might work for you, I have a special on-demand presentation showing how this works utilizing my War Room service, which you can access here for free.

The post The Definitive Index for Next Level Market Moves appeared first on Josh Daily Direction.

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