Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
Stock Markets Soar As Predicted
10 April
Emini S&P futures.
- * Emini S&P June futures had a potential bullish, inverse head & shoulders pattern which was triggered & we have hit the 100 day moving average target at 6,825.
- * We then beat minor resistance at 6,825/6,835 as predicted, for another buy signal targeting 6,885/6,890.
- * We are nearly there.
- * The 6,880 to 6,900 area is minor resistance & in overbought conditions, just before the weekend, traders & investors may decide to take some profits.
- * I would rather sit and wait to buy a dip, than try a short position, hoping for prices to reverse.
- * Minor support at 6,805/6,800 but a break below 6,790 can target better support at 6,765/6,755 & longs need stops below 6,740.
- * Just be aware that a break above 6,900 can target 6,925 then 6,960/6,970.
Nasdaq futures.
- * Emini Nasdaq June futures completed the inverse head & shoulders pattern and shot higher to all targets as far as 25,250/300.
- * We wrote: ”We may pause here but shorts look too risky.”
- * We made a high for the day exactly here on Wednesday & Thursday so it was a good call but I am happy we did not try shorts – there was little profit potential.
- * A break above 25,350 should be seen eventually & can target 25,600/630.
- * We retested support at 25,030/25000 yesterday with a good recovery from 24,953 so this was certainly the better trade.
- * However a break below 24,900 risks a slide to 24,800/750 & longs need stops below 24,600.
Emini Dow Jones futures
- * Emini Dow Jones June reverse head & shoulders pattern has also worked perfectly with a break above 48,100 triggering a buy signal targeting 48,400/500
- * Target achieved.
- * A break above 48,600 is another buy signal targeting 48,850/48,900.
- * First support at 48,100/48,000
- * A break above 47,900 however risks a slide to strong support at 47,800/47,700 & longs need stops below 47,550.
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
20260410
