US stock markets test resistance this morning

Jason Sen DayTradeIdeas.co.uk

Emini S&P June gapped above Friday's high, jumping 100 points. The low & high for the last session were 5739- 5825. (To compare the spread to the contract you trade)
Emini Nasdaq June break above 20200 was our buy signal & we hit targets of 20290 & 20350/370. Last session high & low for the last session were: 20050 - 20409.

Emini S&P June futures

Emini S&P break above 5780 opens the door to 5810/20 which was hit quickly yesterday
Resistance at 5810/20 today & shorts need stops above 5830. Targets: 5790, 5770
A break above 5830 is a buy signal & sees 5820/10 then act as support to target 5860 & 5880.

Nasdaq June futures

Emini Nasdaq break above 20200 hit targets 20290 & 20350/370.
Minor resistance at 20450/500 is key to direction today.
A break above 20500 is another buy signal targeting 20560/580 but we should struggle here.
Bulls need a break above 20600 for the next buy signal.
Holding minor resistance at 20450/500 targets a buying opportunity at 20150/100 & longs need stops below 20000.

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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