This Week’s Trade Idea for the S&P 500

The stock market was showing some positive signs as the month of May came to a close, including a positive performance for the S&P 500 Index futures contract (ES).

Then, as June commenced, the ES set up as a buy trade idea.

To kick off the new trading month, I’m sharing my thoughts on the ES chart today and how the trade is shaping up.

I have also published this idea to my TradingView account, which you can view and track right here.

The S&P 500 Index Setup

Here’s how the chart is setting up…

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

And here’s how I see the trade idea shaping up…

The ES daily time frame is in a down channel. The market hit the bottom of the channel and found support.

The market is now pushing bullish towards the top of the channel price point 4,465.75, about +1,229 ticks above the market. 

It will be a good idea to turn to the one hour time frame and to look for long ideas in the buy zone.

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.

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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 and ETH.
To learn how this might work for you, I have a special on-demand presentation showing how this works utilizing my War Room service that you can access here for free.

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

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

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