Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

22 August

Emini S&P September futures.

• * Emini S&P held just above support again at 6360/50 so watch this level again this morning.
• * with much anticipated Powell’s speech later today, watch the best support  at 6335/6320.
• * Longs need stops below 6300. There is a very good chance of a strong recovery from here.
• * However a break below 6300 is a short term sell signal targeting 6240/30.
• * Minor resistance at 6450/6460 – I do not like to sell in bull trends but this is the best chance of a high for the day.
• * If you try a short, stop above 6470.
• * A break higher is a buy signal targeting 6500/6505.

Nasdaq September futures.

• * Emini Nasdaq hit 3 month trend line support at 23100/23000 & this is very important.
• * Longs need stops below 22850.
• * A low for the day correction at 23100/23000 is very likely but a break below 22800 is a sell signal targeting 22400/22300.
• * A recovery meets resistance at 23900 up to the all time high at 24068.
• * Bulls need a break above here for the next buy signal.

Emini Dow Jones September futures

• * Emini Dow Jones needs a daily close above new all time high at 45371 for a new buy signal.
• * Failure to beat 45400/45450 triggered a move to 44800/750 as predicted.
• * I expect strong support at44600/44500 & longs need stops below 44350.

• * just be aware that a break lower is likely to test strong support at 44100/44000.
  
  Today’s trade ideas:
  

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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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20250822