Tue ES MES Micros Technical Analysis 12/31/2024

Preparing ES Emini & MES Micros Traders
For Our Emini and Micros Futures Trading Room



On the last trading day of the year, futures traders are reminded to exercise patience and caution in light of the market’s shortened week and year-end dynamics. While the Bulls maintain a slight edge with an upward-slanting VWAP and control over key overnight trends, the Bears’ broader dominance is evident with three consecutive lower daily lows. Traders are advised to monitor levels at 2850 and 5860-5866 while preparing for potential volatility in the new year. The trading group MicrosTrader offers tools and insights, emphasizing discipline and high-probability setups. RESOURCES:
            
▶️ Free "Futures Foundations Course"             
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good Morning!

Happy Tuesday, December 31st—the last day of the month, the last day of the year, and the day before a national holiday. A quick reminder: trade cautiously today.

"Come to me, all you who are weary and burdened, and I will give you rest." — Matthew 11:28

This verse feels especially fitting as we close out the year. If you’re feeling tired or in need of rest, turn to our Lord Jesus Christ, who promises to provide peace and restoration.

AM Briefing #334

Brought to you by MicrosTrader.com, where we trade better together.

Tip of the Day

  • Be patient. You don’t have to chase every move. Another high-probability trade will come soon.

News Drivers

  • Limited news today as markets wind down for the holiday.
  • Shortened trading week dynamics: expect movement but manage sizing and risk, as volatility might increase in the new year.

HTF Analysis

  • Key Levels:
    • Support: 2850
    • Resistance: 5860-5866
  • We remain in a broad range. High time frame trends suggest balance, though larger ranges and volatility may dominate next year.

Yesterday’s Review & Trades

  • Initial Strategy: Avoid chasing trades after a significant 73-point overnight move. Chasing can lead to poor discipline.
  • Outcome: Captured a 50-point runner on a rebound trade by carefully mapping strong levels for entries and exits. Additional opportunities included a 20-point long and another liquidity grab in the afternoon.
  • Key Lessons: Patience and discipline pay off in volatile environments.

Bull-Bear Scorecard

  • Bulls Control:
    • Overnight trend line: Upward slanting.
    • VWAP: Trading above it.
    • Indices: Strong upward bias in upper distribution.
  • Bears Control:
    • Three consecutive lower daily lows remain unbroken.
  • Bull-Bear Line: RTH high at 9325.

Today’s Plan

  1. Monitor key levels and watch for a potential liquidity grab and turnaround.
  2. Focus on maintaining discipline and avoiding unnecessary risks.
  3. Join our mental training session 30 minutes before the market opens for additional preparation.

Final Note

If you’re not yet a member, consider joining our community to learn our strategies and techniques. Register for the Free Foundations Course to gain insights and receive a free Zoom pass for our live sessions.

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