Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
06 November
Emini S&P futures.
- * Emini S&P longs at support at 6780/6760 would have worked perfectly although I did not give you enough notice to capitalise on the trade – apologies.
- * Hopefully I at least stopped you holding any short positions.
- * The break above 6805 was a buy signal yesterday targeting 6822/27 & resistance at 6845/6855.
- * This long trade worked perfectly with a high for the day at 6857 & shorts at 6845/55 also worked on the dip to 6805.
- * 1st support at 6800/6795 but below 6790 tests strong support at 6770/6760 & longs need stops below 6747.
- * Longs can target 6825/30 & retest resistance at 6850/60.
- * A break above 6865 is a good buy signal targeting 6875/80.
- * We should struggle initially but shorts are probably too risky & eventually we could continue higher towards 6905/6910.
- * A break below 6747 risks a slide to 6700/6690.
Nasdaq futures.
- * Emini Nasdaq beat resistance at 25500/600 with stop above 25650 triggered for a buy signal & we immediately hit the next target & resistance at 25850/25890.
- * A high for the day exactly here.
- * Shorts worked on the slide to support at 25600/25500.
- * Below 25450 today however risks a retest of the correction low at 25300/280.
- * Try longs with stops below 24750.
- * A break lower targets 24600/24550.
- * Targets for the longs are 25500/600 & resistance at 25850/25890 for profit taking.
- * Shorts need stops above 26000 & a break above here is a buy signal initially targeting 26150 but a retest of the all time high 26399 would not be a surprise.
Emini Dow Jones futures
- * Emini Dow Jones recovered from support at 47100/47050.
- * Resistance at 47600/47650 but a break above 47700 is a buy signal targeting 47850 & a retest of the all time high at 48214 would not be a surprise.
- * Support again at 47100/47050 but longs need stops below 46900.
- * On a break below 46900 look for 46650/46550.
- * We should have strong support at 46500/46400, with a low for the correction possible here but longs need stops below 46250.
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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.
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
20251106
