Day trading has always ben my thing, but I cant help noticing the trend of the overall market indexes such as the /ES mini. I like to also trade futures from time to time and the S&P 500 is the most liquid of the futures contracts to trade.
If you remember towards the end of last year and the early part of this year, the market indexes took a massive tumble due to tariffs and trade war escalating. Well, it seems we will be going through a similar spell all over again. The chart above is the /ES mini daily chart. After hitting a new high of 2961.25, Donald Trump imposed tariffs once again on Chinese goods, putting on the pressure to accomplish a fair trade agreement. The market has responded.
As we move into the Summer, we may want to keep our eyes on the news to determine whether or not Trumps trade war strategy plays to the U.S’s favor. If a trade deal is struck, we may see some huge moves to the upside in the overall Financial markets, and the /ES will certainly be worth watching for long position setups.