Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

12 March

1. 1. Emini S&P March made a high for the day exactly at resistance at 5645/50.
   Shorts worked perfectly as we collapsed to the buying opportunity at 5540/30 (with a low for the day exactly here) & immediately rocketed 100 points
   The low & high for the last session were 5534 – 5651.
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq March break below 20000 was a sell signal targeting 19850/800, 19550/500 & a buying opportunity at 19250/150
   A low for the day exactly here again yesterday.
   Last session high & low for the last session were: 19140 – 19686.
   .
3. 3. Emini Dow Jones March made a high for the day exactly at resistance at 42100/200 & collapsed to my target of 41400/41200 – a low for the day here.
   Last session high & low for the last session were: 41219 – 42128
   .

Emini S&P March futures

• * Emini S&P shorts at resistance at 5645/50 worked perfectly as did longs at support at 5540/30.
• * I expect resistance at 5678/88 today & shorts need stops above 5700.
• * Targets: 5650, 5635, 5620
• * A break above 5700 can target 5730 & resistance at 5770/80. Shorts need stops above 5790.
• * Support again at 5540/30 & longs need stops below 5520.
  Targets: 5555, 5570, 5585.

• * A break below 5510 is a sell signal targeting 5500, 5680, perhaps as far as 5660.

Nasdaq March futures

• * Emini Nasdaq made a low for the day exactly at the buying opportunity at 19250/150.
• * Again longs need stops below 19000 on a retest today – perhaps this will be the low for the correction.
• * A break below 19000 is a sell signal targeting 18850, 18600
• * Minor resistance at 19600/620 was tested with a high for the day at 19686 & we should struggle here again today – Yesterday I said we may reverse and retest the buying opportunity at 19250/150.
• * This is exactly what happened & could do again today

• * However a break above 19700 can target 19850/950 with a good chance of a high for the day here but shorts need stops above 20050
  

Emini Dow Jones March futures

• * We made a high for the day exactly at resistance at 42100/200 & collapsed to my target of 41400/41200 with a low for the day exactly here.
• * A perfect call!!
• * 41300/41200 is important support today.
• * Targets on the bounce are 41650 & 41800.
• * I expect strong resistance at 42100/200 & shorts need stops above 42350.

• * A break below 40950 is a sell signal targeting 40700/600, perhaps as far as 40200.

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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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20250312