US stocks fill the gap for a buying opportunity before markets soar

Jason Sen DayTradeIdeas.co.uk

Emini S&P June made a low for the day exactly at the buying opportunity at 5377/5340. The low & high for the last session were 5355 - 5541. (To compare the spread to the contract you trade).
Emini Nasdaq June longs in the buy zone at 18620/18510 worked perfectly with a low for the day here before a 550 tick recovery. Last session high & low were: 18595 - 19418.
Emini Dow Jones June filled the gap at 39695 - 39449 for a buying opportunity. Last session high & low for the last session were: 39408- 40408.

Emini S&P June futures

Emini S&P half filled the gap at 5377/5340.
As I stated yesterday: It does not have to be filled - a breakaway gap is a very positive signal in a rising market.
So holding above here is a buy signal again for today & a break above 5430 is another buy signal (again) targeting 5500/5510.
This all worked out perfectly with a low for the day at 5355 & an immediate 150 tick jump to our target of 5500/5510.
Resistance at 5525/35 so a break above 5540 is a buy signal targeting 5570/75.
There is only minor support at 5500/5490 so be aware that a move below 5480 risks a slide to an excellent buying opportunity at 5450/40 & longs need stops below 5430.
A bounce from here could retest 5525/35 so there is excellent profit potential.

Nasdaq June futures

Emini Nasdaq I wrote yesterday:
We have a gap to fill at at 18620/18510. It does not have to fill & again it could be a breakaway gap.
Or it may fill & act as support so we could rally once it is filled.
This proved to be correct with a low for the day at 18595.
We immediately hit my 1st targets of 18720, 18850, 18950 & 19050/19150 offering huge profits of up to 550 ticks.
I wrote yesterday: On a break above yesterday's high look for 19340/380.
This target was also achieved & if you held some of your position there was an additional 300 ticks profit for a total of 850 ticks on the day.
As I write we are trying a break above 16340/380 & if this is sustained we can target 19500/500, 19700/750 & even 19850/900 is possible.
Support at 19380/340 & longs need stops below 19280.
Below here risks a slide to support at 19170/130. Longs need stops below 19000.

Emini Dow Jones June futures

Emini Dow Jones reversed to test the gap at 39695 - 39449.
We wrote: A bounce from the gap targets 39830/880 then 40030/40080. If we continue higher look for 40280/310 & 40500/40600 again.
We have hit all targets as far as 40280/310 & I am looking for a retest of this week's high at 40500/40600 today.
A break above 40600 is a buy signal targeting 40700/720 & even 40950/41000 is possible.
First support at 39900/39800 today & longs need stops below 39700.

Author

Jason Sen

DayTradeIdeas.co.uk

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