S&P 500: Longs need stops below 4530

Jason Sen DayTradeIdeas.co.uk

Emini S&P 500, Nasdaq, Emini Dow Jones

Emini S&P December beat the all-important all-time high at 4545/50 for a buy signal triggering further slow gains this week.

Nasdaq December bounced from just 3 ticks above first support at 15300/280 & made a high for the day exactly at the next target of 15470/490 at the end of the week. This level was beaten yesterday as we target the very important all-time high at 15650/700.

Emini Dow Jones December made a clear break above the all-time high at 35540/550 for a buy signal.

Daily analysis

Emini S&P beats the all-important all-time high at 4545/50 to kill the double top sell signal & trigger a buy signal. We are looking for 4580/85 today. Above 4590 targets 4625/35 but a high for the week is likely here.

First support at 4550/40. Longs need stops below 4530.

Nasdaq December now targets the very important all-time high at 15650/700. A rejection here forms a potential double top sell signal.

First support at 15490/460. Longs need stops below 15400.

Emini Dow Jones December breaking higher for a buy signal targeting 35800/850 & 36000/100, eventually as far as 36250/280.

First support at 35550/500. Longs need stops below 35450.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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