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US stocks continue to edge higher

Emini S&P June struggling at resistance at 5960/65.
The low & high for the last session were 5893- 5987.
Emini Nasdaq June longs at support at 21200/21100 worked perfectly.
Last session high & low were: 21113- 21544.
Emini Dow Jones June cleared the 100 & 200 day moving average at 42470/42430 & this acted as support yesterday as predicted.
Last session high & low for the last session were: 42337 - 42941.

Jason Sen DayTradeIdeas.co.uk

Emini S&P JUNE futures

Emini S&P break above 5890 was a buy signal for last week targeting 5925/30 & 5950/60 which was hit by the end of the week as predicted.

However we have not made it as far as 5990/5995 just yet.

There was an issue for bulls at a 6 month trend line joining the November, December & January lows at 5960/65 again yesterday morning.

In overbought conditions there was a good chance of a short term downside correction targeting 5870/65.

However we made a low for the day at 5893.

Below 5860 risks a slide to 5810/5800.

The break above 5980 was a buy signal but we unexpectedly reversed from 5993.

If we can hold 5965/50 on the downside we could eventually target 6000, 6020/24 & perhaps as far as 6032/35.

Nasdaq June futures

Emini Nasdaq break above 21000 was a buy signal targeting 21150/180 & 21400/420, then 21500/510 which was hit last week as predicted.

On a break above 21550 look for 21750/800.

Support at 21200/21100 was tested yesterday exactly as predicted, as we ease overbought conditions in the short term.

We made a low for the day exactly at the support and could do again today.

Over 400 ticks profit was offered yesterday on the long position.

Longs need stops below 20950 today on a retest but a break lower targets 20840/820, perhaps as far as 20650/600.

Just be aware that the best buying opportunity for this week is at 20450/350 & longs need stops below 20200.

Emini Dow Jones June futures

Emini Dow Jones longs at support at 42470/42430 worked perfectly as we shot higher from 42337 to 42941.

We finally reached my 42800/850 target!

We should continue higher now towards 43100/43150.

Support again at the 100 & 200 day moving average at 42470/42430.

Longs need stops below 42300 (Friday's low).

A break below here risks a slide to 41950/41850.

Author

Jason Sen

DayTradeIdeas.co.uk

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