Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
US stock index futures.
Emini S&P September futures
- * Emini S&P broke support at recent lows of 5435/32 for a sell signal & I did notify you in the Telegram group as it happened.
We wrote: (this) should trigger further losses as we start to build what could be a short term bear trend, targeting 5405/00…A break below 5395 is the next sell signal targeting 5375 & 5355, perhaps as far as 5335. - * What a call with a low for the day almost exactly at 5335!! Obviously the position was helped by higher than expected unemployment but if you ran the position, that was a hefty profit on the day. (You may have seen my short positions posted in the free telegram group).
- * I believe we are building a sustainable bear trend so I have already switched from my longer term strategy of buying in to weakness, (despite my trend following principles) to selling in to any recovery & selling on a break below support…and it is working.
- Prices held the 100 day moving average at 5342 on Friday so a bounce from here is likely & I hope we can reach resistance at 5420/30 for a sell opportunity.
Shorts need stops above 5445.
Targets: 5390, 5370, 5350
Nasdaq September futures
- * Emini Nasdaq broke important support at the 9 month trend line & 100 day moving average at 18900/18850 & again I did notify you in the subscriber’s Telegram group.
- * The break below 18725 was another sell signal & we even broke 18500 to hit 18385.
- * I am looking to sell if we recover today with first resistance at 18550/600.
Shorts need stops above 18800 (I must widen stops as volatility increases).
Targets: 18400, 18250, 18100
- * If we continue higher we have a good sell opportunity at 19000/19100 & shorts need stops above 19200
Targets: 18800, 18600, 18400. Eventually I do see prices reaching 18000/17900.
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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.
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
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