Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

20 January

Emini S&P futures.

• * Emini S&P March futures has gapped lower to test support today at 6920/6910 & ran as far as 6888 but immediately recovered So there is still a chance that this support will hold today.
• * A recovery from here can target 6950 & 6970.
• * Above 7020 retests the all time high at 7036.
• * A break higher targets 7046/48.

• * A break below 6885 risks a slide to 6850/6840.

Nasdaq futures.

• * Emini Nasdaq March futures are back below 25500/2550 this morning but we have bounced nicely from the next downside target of 25300/25250.
• * Longs need stops below 25190 and of course bulls will want to see us fill the gap up to 25592.
• * This should be the main resistance of the day, so a break above 25610  should be encouraging targeting 25740/750 & 25850/860.
• * Resistance at 25950/26050.
• * Maybe a break higher opens the door to a retest of the all time high at 26399.

• * However a break below 25190 tests strong support at 25050/25000 – longs need stops below 24850.

Emini Dow Jones futures

• * Emini Dow Jones March retests support at 49050/48950 with a low for the day so far exactly here.
• * On a retest today, longs need stops below 48850.
• * Obviously bulls need a break above the all time high at 49901 to start a new leg higher in the longer term bull trend.

• * A break above 50000 can target 50330/50380.

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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

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20260120