Dow Jones: A weekly close above 34200 is a buy signal [Video]

Jason Sen DayTradeIdeas.co.uk

Nasdaq JUNE meets strong resistance at 13350/400. Obviously shorts need stops above 13550 today! Strong resistance at 13750/800. Shorts need stops above 13900.

Again we have some support at 12900/850, although not strong. Longs if you feel brave, need stops below 12750. A break lower is an important longer term sell signal & we could initially drop 500 ticks, perhaps 750 ticks.

Emini Dow Jones JUNE a high for the day exactly at strong resistance at 33900/34000. Shorts need stops above 34200. A weekly close above here is a buy signal for next week targeting 34700/750. Expect strong resistance at 34800/900.

Shorts at at strong resistance at 33900/3400 targets 33700/600, perhaps as far as 33250/150. If we continue lower look for 32750/700 then strong support at 32400/300. Longs need stops below 32100.

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Jason Sen

DayTradeIdeas.co.uk

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