Nasdaq: Does the outlook remain negative? [Video]

Jason Sen DayTradeIdeas.co.uk

Emini S&P December futures shorts at strong resistance at 4090/4110 are working exactly as predicted. AT LAST!!!

Nasdaq December shorts are working with the break below 11750/700 yesterday as predicted.

Emini Dow Jones futures break support at 33850/800 for a sell signal.

Daily analysis

Emini S&P December collapsed from strong resistance at 4090/4110 hitting my target of 3970/50 & strong support at 3930/10. Guess where the low of the day was!? That is the exact high & low for the move so far as predicted days before it happened! The bounce from 3930/10 meets strong resistance at 3960/70. A high for the day is likely. Shorts need stops above 3690.

Support at 3930/10 is not expected to hold for ever. A break lower on a second or third test is obviously a sell signal targeting 380/70 then 3820/10.

Nasdaq December breaks 11750/700 as predicted to hit my next target of 11550/500, with a low for the day exactly here. However further losses are expected to 11250. Below 11200 look for 11000/10950.

Outlook remains negative of course so gains are likely to be limited with first resistance at 11630/690. Shorts need stops above 11770.

Emini Dow Jones breaks support at 33850/800 for a sell signal targeting 33600 & support at 33300/200. A low for the day is possible but longs are more risky in the bear trend. A break below 33000 is a sell signal targeting 32750/700.

Gains are likely to be limited with resistance at 33800/900. Shorts need stops above 34000.

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Author

Jason Sen

DayTradeIdeas.co.uk

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