The E-mini S&P 500 futures (ticker #ES_F) experienced notable volatility and technical movements between May 28 and May 30, 2025. Initially, a failed breakdown at the 5910 level triggered a strong upward move, reaching a peak target of 6000 points ahead of the June expiration, surpassing earlier expectations. Following this surge, the market underwent a retracement, with key support levels identified at 5945, 5925, and 5910. The 5925 level emerged as a significant magnet, with price action oscillating around this point for multiple days. Traders noted that reclaiming 5925 was crucial for advancing toward higher targets such as 5936, 5945, and beyond, while failure to hold support levels like 5910 and 5877 could lead to declines toward 5850 and lower. The market exhibited a range-bound, choppy trading environment with repeated failed breakdowns and bear traps, notably around the 5877 support level. Resistance levels were also highlighted, including monthly and quarterly points near 6000 to 6023.50. Market participants emphasized protecting gains and managing risk amid the ongoing consolidation. Overall, the E-mini S&P 500 futures remained in a multi-day balance, coiling for a potential breakout, with technical indicators and volume profiles suggesting a cautious trading atmosphere ahead of key events, including a scheduled appearance by Donald Trump. The market's reaction to tariff news and other macro factors contributed to the price fluctuations observed during this period.
1pmCST on 5m or 15m #BGL #ES_F "the surge" https://t.co/pKXDGalhqR
There's the full round trip in #ES_F and 5920-25 target hit. I posted at 1:19PM (after a nice bear trap to 5850) that 5877 Failed Breakdown would trigger long. Targets were 5890, 5910, 5920-25. All hit for 40+ points Just let the bonus runner work. 5936, 5945+ when ES is ready https://t.co/7gmtG2Vsnr
5923.25 #ES_F https://t.co/Huax9zUwuY https://t.co/9v1YwWAr3G