Under the Microscope: E-mini S&P Futures

Global equities rose in tandem yesterday, with many suggesting they’re ready to extend their rally in line with their long-term trends.

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In today’s video we take a closer look at the E-mini S&P 500 futures contract. Using the daily chart to show the overall trend structure, then drilling down to the intraday price action using a TPO chart (Time Price Opportunity) and volume profile, we highlight a key pivotal level for today’s session.

 

For those unfamiliar with TPO charts, they show how much time a price has been traded over a period using a vertical histogram chart. The easiest way to look at them is to think of ‘looking inside’ a candlestick to show where the most trading activity has taken place within it. When used alongside volume profile (which is another histogram which shows trading volumes) it can be a useful tool for day traders, or even higher timeframe traders looking to fine tune their analysis.

 

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