US stock index analysis and trade ideas: A sell signal in the Nasdaq? [Video]

Emini S&P March futures beat the all time high at 5066 for a buy signal & initially hit the next target of 5090/94 then reached 5120/25 on Friday with a high for the day exactly here.
Nasdaq March futures had a small push higher but reversed from a new all time high at 18144, to close lower on the day.
Emini Dow Jones March futures beat the all time high at 38980-39012 as expected after the short term consolidation, and hit my next target of 39160/220. HOWEVER we only got half way to the next target of 39450/500 on Friday.

Jason Sen DayTradeIdeas.co.uk

Emini S&P: higher as expected in the longer term bull trend as 'buy-the-dip' continues to be the winning strategy. We beat the all time high at 5066 for a new buy signal & initially hit the next target of 5090/94 then 5120/25 with a high for the day exactly here on Friday. Further gains are expected this week to 5140/45.

Any downside correction should find support at 5065/60. Longs need stops below 5050.

Nasdaq March futures could dip to a good support level at 17800/750. Longs need stops below 17700. A break lower meets what should be the best support for this week at 17600/500. Longs need stops below 17400.

We have resistance at the all time high at 18120/145. A sustained break higher is buy signal for this week, initially targeting 18200/220 & 18260/270, probably as far as 18320/340.

Emini Dow Jones March futures beat this week's high at 38900/909 & the all time high at 38980-39012 as expected, after the short term consolidation and hit my next target of 39160/220.

The break above 39270 on Friday only reached 39343. As long as we can hold above support at 39000/38900, we can eventually target 39450/500, probably as far as 36650/700.

However longs at 39000/38900 longs need stops below 38750.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.