Nasdaq drifts towards best support again at 12450/400
Emini S&P March breaks support at 4120/10 for a sell signal targeting strong support at 4050/40.
Nasdaq March dipped towards best support at 12450/400, holding just above 12500 as we range trade this week.
Emini Dow Jones March clearly in a sideways triangle pattern for 2 months. Get ready for the breakout!
Daily analysis
Emini S&P March holding strong resistance at 4195/4210 & but broke first support at 4120/10 this time for a sell signal targeting strong support at 4050/40. Longs need stops below 4030. A weekly close below here would be a short term sell signal for the start of next week.
First resistance at 4105/15. Shorts need stops above 4125. A break higher however can re-target 4160/65 before a retest of strong resistance at 4195/4210. Obviously bulls need a break above 4230 for a buy signal this week.
Nasdaq March drifts towards best support again at 12450/400. Longs need stops below 12350 (with a low for the day yesterday at 12366, keeping us long over night). A break lower today however targets 12300/250 then 12130/100 for profit taking on shorts.
Longs at best support at 12450/400 can target 12600/650, perhaps as far as key resistance at 12850/950. A break above 13000 is a buy signal this week initially targeting 13200/220.
Emini Dow Jones first resistance at the January high at 34450/490. A break above here is a buy signal & can target 34650/700, perhaps as far as the December high at 34930/980.
Strong support at 33600/500. Longs need stops below 33400. A break lower is a sell signal targeting 33000/32950.
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Author
Jason Sen
DayTradeIdeas.co.uk
