Technical analysis of the stock markets for the NFP release [Video]

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P SEPTEMBER futures longs at important support at 7635/7625 were triggered, with a good recovery from 7619 to 7691.

Yesterday we beat resistance at 7710/7720 as predicted & the break above 7730 hut my next target of 7760, with a high for the day only 6 points above.

We are in a longer term bull trend so further gains are always possible.

Above 7765 today can retest Friday's high at 7780/7782.

On a break higher this week look for 7795/7799, perhaps as far as 7815/7820.

If we continue higher look for a retest of the all time high at 7833/7838.

Minor support at 7715/7695 but a break below 7690 risks a slide to 7750/7740.

Emini Nasdaq futures

Emini Nasdaq SEPTEMBER hits the downside target & support at 29150/29050 with a low for the week here.

Longs worked perfectly on the bounce to my target of 29540/570, with a high for the day almost exactly here.

A break above 29600 can target 29800/810.

If we continue higher look for 29970/990.

On a retest of support at 29150/29050 we need stops below 28900.

A break below 298900 is a short term sell signal & can initially target 28800/860.

Below 28840 risks a slide to 28420/380.

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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