Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
Downside Targets & Support Levels for US Stock Markets on Monday
13 April
Emini S&P futures.
- * Emini S&P June futures finally reached my ultimate target for last week at 6,885/6,890, after the buy signals were triggered.
- * In fact we made a high for the day and for the week exactly here, so it could not have been more accurate.
- * I did explain that the 6,880/6,900 was resistance & in overbought conditions, just before the weekend, traders & investors may decide to take some profits.
- * So it was no surprise to see prices reverse back to 6,847,.
- * As peace talks breakdown over the weekend I assume we will see a sell off on Sunday night.
- * First target could be 6,820/10 then 6,790/6,780 before some support at 6,770/6,760.
- * A bounce from here is possible, but I guess that depends on war developments & Trump’s messages.
- * A break below 6,755 risks a slide to 6,730 & maybe 6,710.
- * If we continue lower look for strong support at 6,700/6,680.
- * If you feel brave enough to try a long position, stop below 6,660.
Nasdaq futures.
- * Emini Nasdaq June futures edged a little higher to 25,393 in a very quiet session.
- * A sell off target 25,220/200 then 25,100/25,000.
- * On a break below 25,920 look for some support at 24,850/24,800. This may hold initially (depending on developments in the war) & a bounce to 25,000/25,050 is not out of the question.
- * However a break below 25,750 signals further losses towards 24,680/650 then support at 24,520/24,440.
- * A low for the day is possible but longs need stops below 24,350.
Emini Dow Jones futures
- * Emini Dow Jones June hit my target of 48,400/500 after the buy signals last week & made a high for the day & for the week almost exactly here.
- * We also made a low for the day exactly at first support at 48,100/48,000, so I am certainly happy with how the levels worked again last week.
- * A break below 48,000 seems likely on the open & should target support at 47,800/47,700.
- * Whether this is strong enough to trigger a bounce from here depends on how the war escalates over night I guess.
- * A break below 47,650 risks a slide to 47,500/460 then support at 47,250/47,150.
- * If the situation is not too serious, a low for the day is possible here but longs need stops below 47,000.
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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
20260413
