Stock markets rocket from buy levels

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P March futures hit the downside target of 6850/6840 & held above 6815 keeping us long for the expected recovery to 6865/6870 & minor resistance at 6890/6900 on Wednesday.

The break above 6910 then triggered further gains as expected to my targets of 6918/20 & 6930/40.

As predicted we made a high for the day at 6945 and shorts worked on the to 6911 yesterday morning.

We wrote yesterday: I do think that we have resumed the bull trend and eventually a break above 6950 we'll be seen. We can then fill the gap at 6960 & above here is a buy signal targeting 6975.

We should be on the way top 6975 & above here look for 7000/7005 today.

Support at 6915/05 & longs need stops below 6895.

Nasdaq futures

Emini Nasdaq March futures made a low for the downside correction exactly at strong support at 25050/25000 as predicted this week.

Longs worked perfectly as we shot higher by 600 points to my target of 25740/750 (although we missed it by just a single point yesterday!).

Further gains are expected towards 25850/860 then resistance at 25950/26050.

A break above here opens the door to a retest of the all time high at 26399.

First support at 25480/25420 & longs need stops below 25350.

Emini Dow Jones futures

Emini Dow Jones March made a low for the correction almost exactly important support at 48550/48500.

The long position worked perfectly as we shot higher from 48488 and straight to my targets of 49000/49100, 49328/49424 & we are on the way to my ultimate targets of the all time high at 49901.

Of course a break higher & weekly close above here is a buy signal for the start of next week.

Support at 49550/49350 & longs need stops below 49250.

Author

Jason Sen

DayTradeIdeas.co.uk

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