Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
04 September
Video analysis:
Emini S&P futures.
Emini S&P SEPTEMBER futures longs at important support at 7635/7625 were triggered, with a good recovery from 7619 to 7691.
Yesterday we beat resistance at 7710/7720 as predicted & the break above 7730 hut my next target of 7760, with a high for the day only 6 points above.
We are in a longer term bull trend so further gains are always possible.
Above 7765 today can retest Friday’s high at 7780/7782.
On a break higher this week look for 7795/7799, perhaps as far as 7815/7820.
If we continue higher look for a retest of the all time high at 7833/7838.
Minor support at 7715/7695 but a break below 7690 risks a slide to 7750/7740.
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Emini Nasdaq futures.
Emini Nasdaq SEPTEMBER hits the downside target & support at 29150/29050 with a low for the week here.
Longs worked perfectly on the bounce to my target of 29540/570, with a high for the day almost exactly here.
A break above 29600 can target 29800/810.
If we continue higher look for 29970/990.
On a retest of support at 29150/29050 we need stops below 28900.
A break below 298900 is a short term sell signal & can initially target 28800/860.
Below 28840 risks a slide to 28420/380.
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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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