Emini Dow Jones: Be ready to reverse to longs above 22600

Jason Sen DayTradeIdeas.co.uk

Emini Dow Jones and Nasdaq June futures

Emini Dow Jones broke strong support at 21550/450 with stops below 21350 activated for a sell signal targeting 21150/100 & buying opportunity at 20850/750 with stops below 20500. If you were quick enough to reverse in to a short this worked & longs at 20850/750 are working over night.

Nasdaq we wrote: Longs at strong support at 7690/60 stop below 7620. Try then to enter shorts on any bounce to 7670/7100 targeting 7620/00, 7540/30 & perhaps as far as a buying opportunity at 7490/60. Exit shorts & try longs with stops below 7400.

Longs were stopped as we hit 7540/30 but the bounce gave us a selling opportunity at 7683. Shorts worked perfectly on the collapse to our buying opportunity at 7490/60 for a potential profit of 200 points. Longs here are also working over night on the bounce to 7540/30.

Reports will be updated around the US open if necessary.

Daily Analysis

Emini Dow Jones longs at 20850/750 target 21100/200 & 21330/370 before strong resistance at 21500/600. Stops above 21700 – a break higher targets 21850/900 then a selling opportunity at 22350/450 with stops above 22600. Be ready to reverse to longs then targeting 22900/23000, 23150/250 & an excellent selling opportunity at 23650/750.

Good support at 20850/750. Try longs with stops below 20600. A break lower is a sell signal targeting 20500 & minor support at 19850/750. On further losses look for 19450/400.

Nasdaq try longs at strong support at 7690/60 targeting 7740/60 & first resistance at 7800/10. If we continue higher look for 7890/99 & key resistance at 7975/95. A sustained break above 8000 targets 8100/20 then a selling opportunity at 8185/8220 with stops above 8260.

Longs at strong support at 7690/60 stop below 7620. Try then to enter shorts on any bounce to 7670/7100 targeting 7620/00, 7540/30 & perhaps as far as a buying opportunity at 7490/60. Exit shorts & try longs with stops below 7400.

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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