And Here Come Indices: Emini S&P 500, Emini Dow Jones and Nasdaq [VIDEO ANALYSIS]

And Here Come Indices: Emini S&P 500, Emini Dow Jones and Nasdaq [VIDEO ANALYSIS]

Emini S&P JUNE longs at first support at 4460/50 midweek worked perfectly on the run from 4445 up towards strong resistance at 4530/40 by Friday. This is obviously key to direction with a high for the day exactly here on Friday.

Nasdaq June beat resistance at 14400/500 for a buy signal targeting 14650/680 then 14820/870 with a high for the day (& the week of course) exactly here. The perfect call for last week.

Emini Dow Jones June shot higher from strong support at 34250/150 to target 34400/450 & 34750/800 for profit taking. A high for the day just 9 ticks from strong resistance at 34850/950.

Update daily by 06:00 GMT.

Today's Analysis.

Emini S&P JUNE made a high for the day exactly at strong resistance at 4530/40. Shorts worked on the slide to the first target of 4490/4500. Try shorts again with stops above 4555. A break higher retests the February high at 4575/78. Above here look for 4595/99.

I wonder if we are seeing a high for the bounce at strong resistance at 4530/40. (No idea what we are doing up here). Shorts target 4500/4490, perhaps as far as first support again at 4460/50. Longs need stops below 4430. A break lower targets 4405 & 4395, perhaps as far as strong support at 4370/60. Longs need stops below 4350.

Nasdaq JUNE beat resistance at 14400/500 for a buy signal targeting 14650/680 & 14820/870. If we continue higher this week expect strong resistance at 15100/15200. Shorts need stops above 15350.

In severely overbought conditions it is possible that 14820/870 will mark a high for the recovery. Shorts here target 14600 then 14400/350. This should hold the downside initially but I wonder if longs are too risky. A break lower targets support at 14140/100.

Emini Dow Jones JUNE rockets from strong support at 34250/150 & as far as strong resistance at 34850/950. Shorts need stops above 35150.

Shorts at strong resistance at 34850/950 target 34500 & first support at 34250/200 for profit taking.

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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 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.