Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

01 October

1. 1. Emini S&P December barely moving as we trade mostly sideways for 7 sessions.
   The low & high for the last session were 5756 – 5820.
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq December hit my target & buying opportunity at 42350/250.
   Last session high & low for the last session were: 20056 – 20287.
   .
3. 3. Emini Dow Jones December longs at 42350/250 worked perfectly, hitting both targets before the close.
   Last session high & low for the last session were: 42245 – 42715.
   .

Emini S&P September futures

• * Emini S&P moved very little last week, holding a 85 point range as we are struggle to push higher in severely overbought conditions.
  Shorts are a bad idea without a sell signal in such a strong longer term bull trend.
• * So I have no strong signals but if we continue higher look for 5875/85, perhaps as far as 5900/05.
• * My best suggestion on how to trade this market is to buy at support but be quick to take a profit in the low volatility conditions.
• * HOWEVER unfortunately we over ran the next support at 5775/5770 hitting 5756 before seeing the expected rebound.
• * If we continue lower today look for strong support at 5745/35 & longs need stops below 5730.
  Targets: 5755 & 5765.

• * A break lower this week however could target 5695/90 & even support at 5680/70.
  Longs here need stops below 5660.

Nasdaq September futures

• * The break above the August high of 20217/251 hit my targets of 20330/340 & 20400/430, but not quite as far as 20600 just yet, with a high for the week at 20538.
• * We just held at support at 20250/150 yesterday but longs need stops below 20050.
• * If we continue lower this week we meet very strong support at 19900/800 & longs need stops below 19700.

Emini Dow Jones September futures

• * We wrote: I think gains are likely to be limited in severely overbought conditions but there is definitely no sell signal & I will remain a  buyer on any profit taking.
• * We did dip as far as support at 42350/250 as predicted & this did prove to be an excellent buying opportunity but longs need stops below 42150 on a retest today.
  Targets of 42500 & 42650 were hit immediately, meaning we caught the low & high for the day.

• * A break lower this week however risks a slide to 42000/41900 & longs need stops below 41800.

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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

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