Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
Trade ideas for Tuedsay 23rd February 2024
US index futures hit new all time highs.
23 February
1. Emini S&P March futures beat the all time high at 5066 for a buy signal & initially hit the next target of 5090/94 as we look for 5120/25 & 5140/45.
2. Nasdaq March futures has hit my next targets of 17800/810 & 17885/910 before a retest of this week’s high at 18026
3. Emini Dow Jones March futures beat this week’s high at 38900/909 & the all time high at 38980-39012 as expected after the short term consolidation, and hit my next target of 39160/220.
Emini S&P: if you did manage to hold on to the long during this week we saw a very quick 70 point rally as far as my 5010 target & beyond to 5035. Yesterday we beat the all time high at 5066 for a new buy signal & initially hit the next target of 5090/94 as we look for 5120/25 & 5140/45.
Any downside correction should find support at 5065/60. Longs need stops below 5050.
Nasdaq March futures hit my next targets of 17800/810 & 17885/910 before a retest of this week’s high at 18026, just shy of the all time high at 18100/120, which looks like it could be achieved today. Obviously a weekly close above here is a buy signal for the start of next week, initially targeting 18200/220 & 18260/270, probably as far as 18320/340.
Strong support at 17800/750 & longs need stops below 17650.
Emini Dow Jones March futures beat this week’s high at 38900/909 & the all time high at 38980-39012 as expected, after the short term consolidation and hit my next target of 39160/220.
A high for the day only 20 ticks above here. A break above 39270 targets 39450/500, probably as far as 36650/700. Support at 39000/38900 & longs need stops below 38750.
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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Jason Sen, Director
https://www.daytradeideas.co.uk
20240223
