Technical analysis and signals: S&P, Nasdaq and Dow Jones

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P June futures have not hit my next target of 7590/7595 yet.

We have dipped to support at 7530/20 & longs need stops below 7510.

So far the trade is working as we bounce to 7548 & hopefully can target 7555 before a retest of the new all time high at 7569.

Then a break higher targets 7590/7595, perhaps as far as 7645/55.

However a break below 7510 risks a slide to 7490/7485, with good support at 7465/60.

Nasdaq futures

Emini Nasdaq June futures beats the all time high at 29782 for a buy signal.

Targets: 29950/30000 (already hit) then 30450/490.

We held first support at 29750/29650 & longs need stops below 29550 if retested today.

Emini Dow Jones futures

Emini Dow Jones June beat all time high at 50292 for a buy signal targeting 50630/690 then 50940/990.

Both targets hit with a new all time high at 51209...but we have unexpectedly collapsed.

First support at 50300/50200 & longs need stops below 50000.

Just be aware that a break above the all time high can target 52050/52150.

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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