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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Emini S&P December futures beat minor resistance at 4390/4400 but we meet strong resistance at 4435/45. Shorts need stops above 4460.
A break higher is a buy signal targeting 4480/85 then 4510/15. Shorts at 4435/45 target 4400/4390 then 4375/4365. If we continue lower look for 4340/35. A break below here targets 4300/4290, perhaps as far as 4270/65.
Nasdaq December futures meets important trend line resistance again at 15300/350. This has held for the last 3 days but no sell off yet.
Shorts need stops above 15390. A break higher retests last week’s high at 15460/470. A break above here can target 15520 then 15580/620. Shorts at 15300/350 target 15150/15100, perhaps as far as 15050/15000.
Emini Dow Jones December tests strong resistance again at 33900/34100. Shorts needed stops above 34250. Unfortunately we ran as far as 34305 then reversed.
I do not know what to make of this today.
If we continue higher look for 34400/450 & even 34600/650 is possible. However holding below 33900 targets 33700/650. A break below 33600 then targets 33350/300.
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Jason Sen, Director
https://www.daytradeideas.co.uk
20231018
