Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

13 February

1. 1. Emini S&P March holding a 7 day range of just 136 points from 5987 up to 6123.
   The low & high for the last session were 6021 – 6098.
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq March made a high for the day just below resistance at 21900/970
   Last session high & low for the last session were: 21510 – 21862.
   .
3. 3. Emini Dow Jones March broke support at 44500/400 before a strong bounce.
   Last session high & low for the last session were: 44188 – 44733.
   .

Emini S&P March futures

• * Emini S&P remains in an erratic & random sideways consolidation with no pattern or trend to guide us.
• * We can only try to scalp short term levels for a quick turn.
• * A low for the day at support at 6030/20 & longs hit the target of 6060/6070.
• * Try this trade again today, but longs need stops below 6010.
• * A break below 6010 meets support at 5990/5980 & longs need stops below 5970.
  Targets: 6000 & 6010
• * A break below 5970 risks a slide to 5940/35 for profit taking on any shorts
• * Minor resistance at 6110/20.

• * A break above the 1 week high of 6123 can retest the all time high at 6156/62.
  

Nasdaq March futures

• * Emini Nasdaq tests resistance at 21900/970 as I write over night.
• * Again, we remain in an erratic & random sideways consolidation with no pattern or trend to guide us.
• * In the sideways consolidation we could slide again towards 21550, perhaps as far as 21340/21280.
• * If we continue lower look for a retest of support at 21050/20950.
• * Longs need stops below 20850.

• * Resistance at 21900/970 & bulls need a break above the all time high at 22152 for a new buy signal this week.
  

Emini Dow Jones March futures

• * Bulls need a break above the all time high at 45227 for a buy signal.
• * Until then risks are to the downside.
• * We broke support at 44500/400 but held just 88 ticks above the next target & buying opportunity at 44100/43950.
• * Longs need stops below 43850 on a retest today.

• * I must wait for better signals now in the sideways consolidation.
  

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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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20250213