Stock markets are well supported at this stage

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P SEPTEMBER futures still holding inside of Thursday's range in another quiet session.

Again, watch important support at 7635/7625.

Longs need stops below 7615.

A break below 7615 is a short term sell signal & we can target 7570/7560.

Minor resistance again at 7710/7720 & we made a high for the day exactly here.

Bulls need to regain 7725 for a more positive outlook today targeting 7745, perhaps as far as 7760.

Emini Nasdaq futures

Emini Nasdaq SEPTEMBER longs at support at 29150/29050 worked on a small recovery to 29425, holding just below my target of 29460/490.

Same levels apply for today as we hold inside of Monday's range.

Watch support again at 29150/29050 - longs need stops below 28900.

Longs at 29150/29050 can target 29460/490 then 29550/570.

A break above 29610 should be a buy signal targeting 29680/700 & a break above 29750 can target 29960/30000.

A break below 298950 is a short term sell signal & can initially target the 100 day moving average at 29730/29700.

Longs at support at 29150/29050 can target 29450 & perhaps as far as 29550/600 for profit taking.

A break above 29700 is a buy signal for today targeting 29760/790 & above 29810 can target 29950/990.

Emini Dow Jones futures

Emini Dow Jones SEPTEMBER shot higher to move back above 53000 for a buy signal for today targeting 53250/300, (hit on Friday) perhaps as far as 53600/650 (finally reached on Tuesday).

A break above 53720 is the next buy signal targeting 54000/54100.

Strong support at 52650/500 at the start of this week.

Longs need stops below 52350.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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