Technical Analysis Video – DayTradeIdeas
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.
Emini S&P December retests first support at 4665/55 which has held each time it has been tested over the past 4 days.
Nasdaq December dips to strong support at 16120/09 & is holding. Longs need stops below 16060. A break lower is a sell signal.
Emini Dow Jones December reached targets 36000 & 36100 but then collapsed to first support at 35800/700. This level is revised to 35700/600 this morning.
Update daily at 07:00 GMT.
Emini S&P longs at first support at 4665/55 target 4690, perhaps as far as 4710/15, hit this morning. We continue higher looking for 4725/29 before a retest of the all time high at 4740. Obviously a break above here is likely to start the next leg higher in the bull trend.
First support again at 4665/55. Longs need stops below 4645. Further losses meet strong support at 4630/20. Longs need stops below 4610.
Nasdaq December holding strong support at 16120/090 but longs need stops below 16060. A break lower is a sell signal targeting 16000 & strong support at 15900/850. Longs need stops below 15800.
Longs at 16120/090 target 16200/230. If we continue higher look for 16300, 16350 & perhaps as far as resistance again at the 2 week highs of 16430/455. Shorts need stops above 16480. A break higher targets 16500/510 then 16600/620 before a retest of the all time high at 16767.
Emini Dow Jones December first support at 35700/600. Longs need stops below 35500. Next target & minor support at 35300/200. Longs need stops below 35100. Longs at first support at 35700/600 target 35900/36000 then 36100/120. If we continue higher look for 36250 before a retest of the all time high at 36466.
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No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.
Jason Sen, Director