US Stock Markets Update – Join Jason Sen As He Reviews Emini S&P, Nasdaq And Emini Dow Jones

European Rate Surge Continues

Video analysis:

Emini S&P MARCH completed the right should of a small head & shoulders pattern breaking the neck line is at 4590/4580 for a medium term sell signal.

A potential drop of 200 points is on the cards.

Nasdaq MARCH I warned that we could be starting a short term bear trend - that situation is certainly developing with lower highs on bounces & lower lows on each down move.

Emini Dow Jones MARCH only edging lower compared to the other 2 markets. However we are holding below the 100 day moving average at 35335 which adds a negative bias.

It is clear certainly more clear now that bears are gaining in confidence & increasing their attacks. However there will always be buyers seeking bargains at lower prices & they will jump in aggressively.

Update daily at 07:00 GMT.

Today's Analysis.

Emini S&P break of the neck line at 4590/80 is a significant sell signal. Targets initially are 4525/20/, 4495/90, 4450/45.

Strong resistance at 4590/4600. Shorts need stops above 4615.

Nasdaq is building a minor negative trend in January targeting 15550/500, 15350/320 & retest of last week's low at 15170/150. Further losses however are being seen towards the 200 day moving average at 15000/14950. A break below here is a significant sell signal & we could see losses accelerate to the downside. A break below 14830 is the next sell signal.

Bulls need a move above 15350 today but we still run in to resistance at 15480/510 & strong resistance at 15650/700.

Emini Dow Jones breaks the 100 day moving average at 35350/330 to test less important Fibonacci support at 35120/110. A break below 35090 therefore should be a sell signal targeting the 200 day moving average at 34900/850. Failure here (likely eventually) risks a slide to 34560/540.

Strong resistance at 35450/550. Second resistance at 35760/790.

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European Rate Surge Continues

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.