Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

17 December

1. 1. Emini S&P December tested support at 6050/45 with a bounce from here to 6090 yesterday.
   The low & high for the last session were 6051 – 6090.
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq December made a low for the week at strong support at 21390/330 & yesterday we hit my next target of 21920 & are closing in on 22200/250.
   Last session high & low for the last session were: 21762- 22152.
   .
3. 3. Emini Dow Jones December continues lower to 43811 with losses 8 days in a row.
   Last session high & low for the last session were: 43721 – 43993.

Emini S&P December futures

• * Emini S&P support at 6050/45 is obviously key to direction again this week.
• * Longs here can target 6057, 6066, 6070, perhaps as far as 6081/83.
  (all targets were hit yesterday)
• * Just be aware that a break below 6040 can target a buying opportunity at 6020/10 & longs need stops below 6000.

• * On a break above 6112 we can target 6126/31 & eventually 6170/75 is possible.

Nasdaq December futures

• * The break above 21840 targets 21920 (hit), perhaps as far as 22200/250 this week.
• * On further gains look for 22290/299.

• * First support at 21920/820 & longs need stops below 21750.
  

Emini Dow Jones December futures

• * We broke support at 44580/520 to target support at 43930/850 as predicted  & longs here were stopped below 43750.
• * A break lower tests the 50 day moving average at 43590/550.
• * If we continue lower we meet the 4 month ascending trend line at 43300/250.

• * Resistance at 44000/100 could see a high for the day but shorts need stops above 44200.

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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

https://www.daytradeideas.co.uk

20241217