Stock markets are holding important support levels

Emini S&P September futures
- Emini S&P held just above support again at 6360/50 so watch this level again this morning.
- With much anticipated Powell's speech later today, watch the best support at 6335/6320.
- Longs need stops below 6300. There is a very good chance of a strong recovery from here.
- However a break below 6300 is a short term sell signal targeting 6240/30.
- Minor resistance at 6450/6460 - I do not like to sell in bull trends but this is the best chance of a high for the day.
- If you try a short, stop above 6470.
- A break higher is a buy signal targeting 6500/6505.
Nasdaq September futures
- Emini Nasdaq hit 3 month trend line support at 23100/23000 & this is very important.
- Longs need stops below 22850.
- A low for the day correction at 23100/23000 is very likely but a break below 22800 is a sell signal targeting 22400/22300.
- A recovery meets resistance at 23900 up to the all time high at 24068.
- Bulls need a break above here for the next buy signal.
Emini Dow Jones September futures
- Emini Dow Jones needs a daily close above new all time high at 45371 for a new buy signal.
- Failure to beat 45400/45450 triggered a move to 44800/750 as predicted.
- I expect strong support at44600/44500 & longs need stops below 44350.
- Just be aware that a break lower is likely to test strong support at 44100/44000.
Today’s trade ideas

Author

Jason Sen
DayTradeIdeas.co.uk

















