ES Futures Break Into the Sell Zone

The S&P 500 (ES) futures market is off to a strong start for the week, trading higher by 3.5% in just a matter of days.

However, there are now multiple levels of resistance looming overhead.

The general trend of the market is still bearish, and the monthly time frame remains in a short term down trend.

Therefore, we are now seeking out selling ideas on the lower level time frames…

Finding an Entry

Here’s how the daily chart is shaping up for the ES market…

Hourly Chart of S&P 500 (ES) Futures — Source: TradingView

The ES one hour time frame is in a bearish trend. The market has a down Fibonacci extension price point 3,444.75, about -1,199 ticks below the market.

Entry: Counter trend line break bearish below the down trend line.

Stop: 3,826.75

Limit: 3,444.75

Once or if the market provides the one hour entry, and as long as the market stays below the down trend line, it will be a good idea to turn to the five minute time frame and look for Tunnel Trader short / Destination Trader short / Chandelier Trader short ideas towards the one hour price target.

The Bottom Line

With inflation on a fast-track, you need to know how to amplify your gains.

If you want more detail on how I’m following this market in my War Room, check out the link in the P.S. below…

And 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.

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. Countless everyday Americans are earning anywhere from an extra few hundred bucks a week…

Get the urgent details — and a special $5 deal for a full year of my War Room — right here…

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

Leave a Reply

Your email address will not be published.

Stop wondering what direction the markets are headed! Sign up right now to get Josh’s Daily Direction straight to your inbox each morning before the trading day even begins. Best of all – it won’t cost you a dime.