What's next for Nasdaq? [Video]

Jason Sen DayTradeIdeas.co.uk

Emini S&P December futures holding both support at 4500/4490 & strong resistance at 4550/60 so far this week as we form a downward sloping channel. Shorts need stops above 4570.

Shorts at 4550/60 can retarget 4500/90. If we continue lower this week however look for 4465/60 & 4450.

*December is trading about 50 points above September.*

Nasdaq December futures are stuck in the middle of a 2 month triangle consolidation pattern from support at 15360/330 up to resistance at 15730/770. Trade the range & wait for a breakout.

*December is trading about 195 points above September.*

Emini Dow Jones December I am watching for the formation of a head & shoulders pattern with neck line at 34550/500.

Upper trend line resistance at 35120/160. Shorts need stops above 35250. A break higher should be a buy signal targeting 35320 & 35410.

*December is trading about 330 points above September.*

Author

Jason Sen

DayTradeIdeas.co.uk

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