Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
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US stock markets reverse from this week’s resistance areas as CPI beats estimates.
Emini S&P December futures made a high for the day at strong resistance at 4430/50. Shorts worked on the slide to support at 4375/4365. A low for the day only 10 points below.
Shorts at strong resistance at 4430/50 again today need stops above 4460. A break higher is a buy signal targeting 4480/85.
Minor support at 4375/4365 but longs are risky, despite a bounce from here yesterday. A break below 4355 targets 4335/30.
Nasdaq December futures collapsed back below trend line resistance at 15300/350 after what we now know was a false breakout. Longs at support at 15365/335 were need stopped below 15300.
Holding above 15350 puts bulls in control targeting 15500 & 15650. Holding below 15250 should trigger further losses towards 15150/120 & 15090/050.
Emini Dow Jones December hit my target & strong resistance at 33900/34100 & shorts worked perfectly as we collapsed from 34153 to 33700/650 for profit taking.
A low for the day only just below at 33617.
We meet strong resistance again at 33900/34100. A break below 33540 should be a sell signal targeting 33350.
Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Jason Sen, Director
https://www.daytradeideas.co.uk
20231013
