Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
09 July
Video analysis:
Emini S&P futures.
Emini S&P SEPTEMBER futures tested strong support at 7490/7485 but unfortunately longs stopped below 7475 before a bounce from just below here at 7469.
The bounce has reached 7554 as I write, with minor short term trend line resistance at 7580/7590.
A break above 7600 is a buy signal targeting 7612/14 & 7636/43.First support again at 7490/7480 but a break below 7470 risks a slide to 7425/15 for profit taking on shorts.
Emini Nasdaq futures.
Emini Nasdaq SEPTEMBER break below 29130 was a short term sell signal targeting 28900/800 for some profit taking….we made a low for the day at 28910.
I hope the trade worked for you.
We have seen a good recovery & are currently trading above yesterday’s high of 29558.
The level of 29575/29535 should be key to direction.
Holding above here can target 29620/650 then 29720/770.
A break above 29810 should be a buy signal targeting 29860/890 then resistance at 29900/30000 – a good chance of a high for the day if tested but shorts need stops above 30100.
Failure to hold above 29575/29535 risks a slide to minor support at 29350/270.
A break below 29210 can retest 28900/28800.If we continue lower this time look for a retest of June lows at 28550/510.
Emini Dow Jones futures
Emini Dow Jones SEPTEMBER collapsed breaking first support at 53100/52900 to target strong support at 52550/450.
Sorry for the typo yesterday – longs needed stops below 52300….so the trade worked perfectly with a low for the day at 52343 & a recovery to 52760 as I write.
We could push higher to minor resistance at 52830/880. A high for the morning is certainly possible – maybe we will range sideways for a while.
However a break above 52950 targets 53130/170.
A move back below 52600 suggests weakness and a retest of strong support at 52550/450.
Again, longs needed stops below 52300.A break lower targets 52100/52000.
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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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