Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

21 July

1. 1. Emini S&P SEPTEMBER hit a new all time high at 6357 but closed a little lower on the day
   Last session high & low were: 6323 – 6357
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq September reached a new all time high at 23320
   Last session high & low were: 23203- 23320.
   .
3. 3. Emini Dow Jones September gave up most of Thursday’s gains
   Last session high & low for the last session were: 44423 – 44858.

Emini S&P September futures.

• * Emini S&P hit my next target of 6352/55 with a new all time high just 2 points above.
• * The index has really only traded sideways since jumping higher on the 3rd of July despite making the odd new all time high within that time.
• * There is no indication that prices are about to collapse.
• * So I cannot suggest a short position but having said that, a drift lower to 6235/6215 would not surprise me in the coming days or weeks.
• * Of course further gains are always possible in such a strong bull trend and we may just be stuck in the normal consolidation phase.
• * On a move higher the next target is 6365/67.
• * Eventually 6377/80 & even 6390 is possible.
• * We closed the week below 6343/38 which is not the strongest signal but it’s still not a sell signal

• * Minor support today at 6335/30 but below 6325 meets a buying opportunity at 6315/10 and longs need stops below 6300.

Nasdaq September futures.

• * Emini Nasdaq break higher hit my targets of 23150/155, 23220/230 and 23300/310 within new all time high almost exactly here.
• * Again there is a risk that we are running out of momentum and need a correction to the downside but currently there is no sell signal.
• * Holding above 23250 today & we can retarget 23300/310
• * Eventually we can reach as far as 23350/370 & 23410/430 with 23500/510 certainly not out of the question.

• * Look for support at 23180/160.

Emini Dow Jones September futures.

• * Emini Dow Jones reversed from 44858
• * I am not sure about the bull flag pattern but if we do continue higher at the start of this week look for my targets of 44940 & 45040.
• * Further gains retest the all time high at 45177.
• * A break higher tests the trend line at 45350/400.

• * We should find support at 44430/44400 & 43950/43850.

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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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20250721