Stock markets hit new all time highs as expected

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P June futures higher as expected with a new all time high now at 7540.
We should find support at 7455/7445 & longs need stops below 7430.
Just be aware that a weekly close below 7430 starts next week on a slightly less positive outlook & risks a slide to 7410/7400, perhaps as far as 7370/7360...but probably no further.
A break above 7540 can target 7570/75 then 7590/7595, perhaps as far as 7610.

Nasdaq futures.

Emini Nasdaq June futures longs at my first support at 29480/380 worked perfectly with a low for the day exactly here.
We shot higher again as predicted to hit my next target of 29720/780 & a new all time high exactly here at 29782.
A nice easy profit of around 300 ticks for the day.
If we continue higher today look for 29950/30000.
First support again at 29480/380 & longs need stops below 29300.
A break lower however risks a slide to minor support at 29100/29000...with strong support at 28850/750 & longs need stops below 28650.

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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