Good recovery for US stock and outlook remains positive [Video]

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P beat resistance at 6690/6700 which was key to direction.

Yesterday we made a low for the day exactly at my support at 6685/75.

Longs worked perfectly & the break above 6715 was another buy signal - we hit my target of 6770/6780.

A break above 6800 is a new buy signal targeting 6830 & 6850.

Strong support at 6750/6740 & longs need stops below 6730.

Nasdaq futures

Emini Nasdaq we have capitalised on the recovery from the buying opportunity at 24200/24000.

We are testing resistance at 25130/25230 today.

Shorts need stops above 25330.

A break higher is a good buy signal initially targeting 25450/500 then 25800/25850.

Failure to beat resistance at 25130/25230 targets 24900/800.

A low for the morning session is possible here.

However if we continue lower look for a buying opportunity at 24550/24450 & longs need stops below 24300.

Emini Dow Jones futures

Emini Dow Jones has recovered well from the buying opportunity at 100 day moving average & 38.2% Fibonacci support at 45900/45700.

A low for the day yesterday at support at 46350/450 & shot higher to my next target of 46800/850.

The break above 46950 is the next buy signal targeting 47200/300, hit over night as I write.

Minor resistance at 47400/47500 - I think shorts are risky but a break above 47550 is a buy signal targeting 47900/47950.

Author

Jason Sen

DayTradeIdeas.co.uk

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