Buying opportunities in S&P, Nasdaq and Dow Jones worked perfectly this week
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Emini S&P March longs at the buying opportunity at 5540/30 worked in the jump to 5675.
The low & high for the last session were 5550 - 5675. -
Emini Nasdaq March buying opportunity at 19250/150 worked perfectly with a low for the week here.
Last session high & low for the last session were: 19387 - 19788. -
Emini Dow Jones March longs at important support at 41300/41200 worked perfectly & we made a high for the day almost exactly at resistance at 42100/200.
Last session high & low for the last session were: 41047 - 42025.
Emini S&P March futures
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Emini S&P longs at support at 5540/30 worked on the bounce to resistance at 5678/88 with a high for the day only 3 points below here.
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Shorts need stops above 5700 on a retest today.
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Targets: 5650, 5635, 5620
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A break above 5700 can target 5730 & resistance at 5770/80. Shorts need stops above 5790.
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Support again at 5540/30 & longs need stops below 5520.
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Targets: 5555, 5570, 5585.
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A break below 5510 is a sell signal targeting 5500, 5680, perhaps as far as 5660.
Nasdaq March futures
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Emini Nasdaq made a low for the week exactly at the buying opportunity at 19250/150.
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Again longs need stops below 19000 on a retest today - perhaps this will be the low for the correction.
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A break below 19000 is a sell signal targeting 18850, 18600
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Minor resistance at 19600/620 was tested again yesterday & we held just below strong resistance at 19850/950 with a good chance of a high for the day here today but shorts need stops above 20050.
Emini Dow Jones March futures
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Longs at important support at 41300/41200 worked perfectly hitting targets on the bounce of 41650 & 41800 for up to 600 ticks easy profits.
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I expect strong resistance at 41950/42050 & shorts need stops above 42150.
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Important support again at 41300/41200.
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A break below 40950 is a sell signal targeting 40700/600, perhaps as far as 40200.
Author
Jason Sen
DayTradeIdeas.co.uk
