ES is now 2.5 percent from record highs, Yuriy Matso notes

ES is now 2.5 percent from record highs, Yuriy Matso notes
ES nears record highs support

Yuriy Matso highlights that the E-mini S&P 500 futures (ES) are now just 2.5 percent below their previous all-time highs.

According to Matso, a former resistance level has now become support as part of the index's current trading pattern.

Earlier this month, Yuriy Matso noted that the S&P 500 was down 7% from its recent peak, with 6300 mentioned as a correction territory level in his previous commentary. Matso has also pointed out unclear price action on the NQ_F 1-hour chart, highlighting two key levels to watch in recent trading according to a separate observation. These updates come as investors continue to monitor technical signals on major U.S. equity indexes.

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