Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

25 November

1. 1. Emini S&P December choppy again as we bounce from 5940.
   The low & high for the last session were 5940 – 5993
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq December held inside Thursday’s candle so same levels apply for today.
   Last session high & low for the last session were: 20693- 20880.
   .
3. 3. Emini Dow Jones December shot higher to resistance at 44450/490
   Last session high & low for the last session were: 43818 – 44452.
   .

Emini S&P December futures

• * Emini S&P still holding strong resistance at 5980/90 & shorts need stops above 6000 this week.
• * A break higher is a buy signal targeting 6006/6009 & we should struggle here but a break higher can target 6025.
• * Minor support at 5960/55 did not work on Friday

• * I think we should have support at 5950/45 & longs need stops below 5940.
  

Nasdaq December futures

• * Resistance at 20960/990. Shorts need stops above 21090.
• * A break higher targets 21140 & 21190.
• * The best support for this week again at 20420/380 & longs need stops below 20300.

• * Just note that the last 4 daily candles have long lower wicks so it’s obviously buyers are ready to jump in aggressively on weakness.
  

• Emini Dow Jones December futures
• * A low for the day only 18 ticks above support at 43800/700 before we shot higher to my target of 44300/310 & 4 month trend line resistance at 44450/490
• * A high for the day exactly here
• * A break higher retests the all time high at 44625.

• * Support again at 43800/700 but longs need stops below 43600.
  

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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.

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Jason Sen, Director

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