Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
22 May
- 1. Emini S&P June collapsed to wipe out a week of gains.
The low & high for the last session were 5847- 5958.
(To compare the spread to the contract you trade)
. - 2. Emini Nasdaq June also struggling in overbought conditions as retest the support at 21200/21100.
Last session high & low were: 21073- 21558.
. - 3. Emini Dow Jones June collapsed back below the 100 & 200 day moving average at 42470/42430.
Last session high & low for the last session were: 41853 – 42742.
Emini S&P JUNE futures
- * Emini S&P I warned in overbought conditions we may consolidate and trade sideways, which of course is normal in a bull trend. There’s no sell signal at this stage.
- * The break below 5915 did trigger a move towards 5895/85 &s as far as 5875/70.
- * However we continued lower to 5848.The move was greater than I expected.
- * Holding below 5870/75 risks a slide to 5830/25.
- * On a break below 5820 look for 5805/00.
- * Gains are likely to be limited until we unwind the overbought conditions & become oversold on the daily chart.
- * First resistance at 5880/85 with strong resistance at 5900/5905 & shorts need stops above 5915.
Nasdaq June futures
- * Emini Nasdaq break above 21000 was a buy signal targeting 21150/180 & 21400/420, then 21500/510 which was hit last week as predicted.
- * On a break above 21550 look for 21750/800. (We reversed from 21562 yesterday)
- * Support at 21200/21100 again today after we made a low for the day exactly here again yesterday.
- * Longs need stops below 20950 but a break lower targets 20840/820, perhaps as far as 20650/600.
- * Just be aware that the best buying opportunity for this week is at 20450/350 & longs need stops below 20200.
Emini Dow Jones June futures
- * E mini Dow Jones finally reached my 42800/850 target but then unexpectedly collapsed yesterday breaking support at the 100 & 200 day moving average at 42470/42430.
- * We immediately hit my next downside target of 41950/41850 with a low for the day exactly here.
- * This could be good support today but longs need stops below 41700.
- * Targets for the bounce are 42100 & 42300. If we continue higher look for 42500/550.
- * A break below 41700 risks a slide to 41580/550. There is a small gap to fill at here.
- * A break below 41450 is a sell signal targeting 41240/220.
It’s not the smartest traders who succeed, nor those who work the longest hours. It’s traders who learn how to control their emotions.
Learn my trading psychology secrets to gain emotional stability in my FREE 5 day challenge!
Sign up now: https://bit.ly/3RtFyZZ
Join my free telegram group for analysis and signals.
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
https://www.daytradeideas.co.uk
20250522
