Daily analysis by DayTradeIdeas - 12/05/2022 - 12.05.2022

Daily analysis by DayTradeIdeas - 12/05/2022 - 12.05.2022

Emini S&P JUNE break of this week's low of 3960/55 is a sell signal & we could initially target 3820/00. I would not rule out 3600/3500.

There is little hope for bulls now. However if prices can hold above 3960 a recovery to 3990/4000, perhaps as far as 4040/50.

Nasdaq JUNE remains in a bear trend & the outlook certainly is negative as we look for 11700/650, probably as far as 10800/700.

Gains are likely to be limited with resistance at 12100/200 & 12500/600.

Emini Dow Jones JUNE broke the 500 day moving average at at 32000 & then 31800 for a sell signal which could actually trigger a crash in the weeks ahead. Initially we could go straight to 30000 & 29700/600, with 29000 certainly not out of the question. A break below 29000 is catastrophic.

Strong resistance at 32100/300. Shorts need stops above 32400.

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Jason Sen

Jason Sen

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. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk