January 02, 2025 at 11:19AM
The S&P 500 E-mini Futures (ES March 2025) are trading at 5969.75 at the time of this analysis. Below is a breakdown of the key levels and the broader market outlook for both S&P 500 intraday traders and swing traders.
S&P 500 E-mini Futures Levels for Traders Today
Bullish Bias Levels for ES
5952.95: Today’s developing VWAP, currently trending upward. As long as price remains above this level, the bullish bias in S&P 500 E-mini Futures is intact.
5980: A key resistance level likely to be tested as the market rises.
5989–5990: An important resistance zone, acting as a potential gateway to the 6000 psychological level.
6000: Reclaiming this level could signal a stronger bullish push, setting the stage for additional upside targets in the coming days.
Bearish Bias Levels for ES
5952.95: Falling below today’s developing VWAP would indicate a shift toward bearish sentiment for S&P 500 Futures.
5929.5: The Value Area Low (VAL) of December 20, a critical support level for ES.
5921.5: Yesterday’s Value Area Low (VAL). A break below this could pave the way for a test of the 5900 round number.
Swing Trade Context for S&P 500 E-mini Futures Traders
Upside Price Targets for Swing Traders
6023: A key level to watch this week. Reaching this target would reinforce the bullish trend in S&P 500 E-mini Futures.
6050: An important upside price target, indicating sustained momentum.
6100–6105: This zone represents a significant profit-taking area for swing traders. If price reaches this level, expect temporary pullbacks as traders lock in gains.
Downside Price Targets for Swing Traders
5900: A key psychological support level for ES Futures, likely to draw attention if the market weakens.
5860: The 20 EMA on the weekly timeframe, a critical support level for S&P 500 swing traders.
Broader Market Outlook for ES Futures and the S&P 500 Index
The S&P 500 Futures market maintains a bullish bias above 5952.95, with price likely to test resistance at 5980 and 5990 before attempting to reclaim the 6000 round number. A break above 6000 could open the path to 6023 and 6050 in the coming days, while swing traders may target 6100–6105 as a key profit-taking zone.
On the downside, losing 5952.95 as support shifts the focus to 5929.5 and 5921.5, with a potential move toward the 5900 psychological level and the 20 EMA at 5860 for swing traders.
What S&P 500 Traders Should Be Looking Out For
Above 5952.95: The bullish trend remains intact for S&P 500 Futures, with resistance at 5980, 5990, and 6000. Swing traders should monitor the weekly upside targets of 6023, 6050, and 6100–6105.
Below 5952.95: A bearish shift in ES Futures, with support levels at 5929.5 and 5921.5. A break below these levels could trigger further downside toward 5900 or 5860.
As always, trade S&P 500 E-mini Futures and the broader S&P 500 Index at your own risk. Visit ForexLive.com for additional perspectives and analysis. Visit ForexLive.com for additional views.
This article was written by Itai Levitan at www.forexlive.com.
