US stock markets plunge to support levels

Jason Sen DayTradeIdeas.co.uk

Emini S&P September futures collapsed as far as support at 5635/25 The low & high for the last session were 5632 - 5717. (So you can compare the spread to the contract you trade).
Emini Nasdaq September futures collapsed to support at 20100/20050. Last session high & low for the SEPTEMBER futures contract: 19965 - 20597.
Emini Dow Jones September futures continue higher as expected. Last session high & low for the SEPTEMBER futures contract: 41095 - 41546.

Emini S&P September futures

Collapsed through support at 5675/65 to the next support at 5635/25 & made a low for the day here. Longs need stops below 5620.
I would take a break below 5620 as a sell signal targeting 5600/5595. I think there is a good chance of a low for the day here but longs need stops below 5585.

Nasdaq September futures

Emini Nasdaq hit the buying opportunity at 20100/20050 & over ran to 19965 but made a quick recovery from here. I am looking for targets of 20200 & 20320. I would not rule out a recovery as far as 20450.
I would try a short at 20580/620, with stops above 20690. Targets: 20500, 20400, 20250

Emini Dow Jones September futures

Beat the all time high at 40350/360 for an important buy signal for this week hitting targets of 40630/660 & 40710/750 but we have reached as far as 41299
Next targets: 41350/400 (hit yesterday) & 41680/710 (possible today). Support at 40680/630 & longs need stops below 40500.

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.

EUR/USD climbs above 1.1600 on US–Iran peace breakthrough

The EUR/USD pair stays firm above 1.1600 in the European session on Monday. The US and Iran have reached a deal to reopen the Strait of Hormuz on Sunday, which underpins risk sentiment, supporting the Euro against the US Dollar. Now, the main focus this week remains on the Fed policy decision due on Wednesday.

GBP/USD: US-Iran reaches deal supporting advance beyond 20-day EMA

The GBP/USD pair trades 0.35% higher to near 1.3460 during the late Asian trading session. The Cable extends its week-long advance as market sentiment improves further, following the announcement that the United States and Iran have reached a deal.

Gold gains momentum as US, Iran announce a peace deal

Gold price rises to a weekly high during the early European trading hours on Monday. The precious metal rebounds after the United States and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.

Bitcoin consolidates gains, Ethereum defends support, XRP nears breakout trigger

Bitcoin, Ethereum and Ripple begin the week on a constructive note as the top three cryptocurrencies attempt to extend rebounds after recovering nearly 4%, 2% and 2.6%, respectively. BTC steadies around $65,600, ETH continues to hold firmly above the key $1,700 support, while XRP nears the upper boundary of the falling channel pattern.

President Trump announced that the deal with Iran is complete

President Trump announced that the deal with Iran is complete and he authorises the toll-free opening of the Strait of Hormuz and removal of the US Naval blockade. While the agreement is made, it is expected to be signed on Friday to take effect. The Forex market looks stable and could react slowly to the positivity around the news as Iran still expresses its mistrust on the US.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.