Hey there, it’s David and welcome to today’s Futures free video for Thursday April 13th. In this video, I’ll be discussing the S&P 500 and why I think it’s still a short-term trading market. Additionally, I’ll be sharing how I used the micro Voodoo line levels to trade the ES today..

Overview

The S&P 500 has been trading within a chop range for the past week and a half, but it finally broke out to the upside today. However, I believe there’s still some uncertainty as to whether this advance from the March 13th low will continue and push us up beyond the February high or if we’ll see continued two-way action.

Short-Term Trading

As I mentioned earlier, this is still a short-term trading market, which is why I continue to use the micro Voodoo line levels. Today, I noticed how they came into play and worked in the ES. I had a nice move up overnight and then held the micro Voodoo fire line, the most important of the voodoo line levels. Afterwards, I came back above the snow line, tested it from above, and held. This was my first trade.

Given the short-term nature of the markets, I was concerned and used the pullback that held support to head to the upside. I waited until there was a small pullback that held one of the minor levels and used that to take me up above the micro Tree Line, the second most important level. As long as they hold that into tomorrow, I’ll continue to look short term upwards.

Conclusion

In conclusion, I believe this market remains tricky to have a view on trend from day to day, so it’s best to have a fresh short-term perspective every day. I’ll be keeping an eye on it and trading it accordingly. If you found this video useful, please don’t forget to like, comment, and subscribe to our channel. Additionally, be sure to visit Simpler Trading to learn how to sign up for our services.