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Emini Dow Jones hits a new all time high

  • Emini S&P December choppy again as we try to retest the all time high at 6053.
    The low & high for the last session were 5976 - 6044.

  • Emini Nasdaq December tests resistance at 20960/990 & holds below 21090
    ​​​​​​​Last session high & low for the last session were: 20755- 21024.

  • Emini Dow Jones December bounced from support at 44640/560 to a new all time high at 45002.
    Last session high & low for the last session were: 44532 - 45002.

Emini S&P December futures

  • Emini S&P made a low for the day exactly at minor support at 5980/70.

  • A break below 5960 therefore should be a short term sell signal targeting 5930/25.

  • Obviously bulls must clear 6055 to be fully in control again targeting 6078/80 & 6095/99, perhaps as far as 6126/31.

Chart

Nasdaq December futures

  • Resistance again at 20960/990. Shorts need stops above 21090.

  • A break higher targets 21140 & 21190.

  • It's difficult to find tradeable levels on the downside as we have been consolidating for 2 months.

  • There maybe minor support at 20870/830 but a break below 20750 risks a slide to the best support for this week again at 20420/380 & longs need stops below 20300.

  • Just note that the last 6 daily candles have long lower wicks so it's obviously buyers are ready to jump in aggressively on weakness.

Chart

Emini Dow Jones December futures

  • Longs at support at 44640/560 worked perfectly on the bounce towards my target of 45020/050 & even 45400 is possible this week.

  • If we continue higher look for 45610/650.

  • Support at 44580/520 & longs need stops below 44450.

Chart

Author

Jason Sen

Jason Sen

DayTradeIdeas.co.uk

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