Emini S&P/Nasdaq Chart. Report, Recap & Daily Forecast with Chart from Jason Sen – Day Trade Ideas


AUDUSD potential double bottom at the 6965/60 low could be a short term buy signal. A break above 7050 gives us a buy signal targeting 7110, perhaps as far as 7140. 

NZDUSD held 1st support at 6590/85 as predicted & topped almost exactly at strong resistance at 6615/25.

A break higher is a buy signal.

USDJPY bottomed exactly at the next target of 109.45/40. We wrote: Oversold on the daily chart so a recovery is on the cards targeting key resistance at 110.15/20. Missed by 9 pips but the double bottom adds to the recovery potential this week.

EURJPY shorts at key resistance at 123.45/55 worked perfectly & we bottomed exactly at first support at 123.10/00.

EURUSD shorts at our selling opportunity at 1.1235/45 only offered 30/35 pips profit in quiet conditions.

USDCAD remains erratic & directionless. We collapsed from just below minor resistance at 1.3485/1.3495, breaking support at 1.3430/25 to bounce from the next target of 1.3375/70.

GBPUSD hit our selling opportunity at 1.3045/50 & topped exactly here. %0 pips profit offered on the dip to 1.3000.

GBPJPY bottomed exactly at minor support at 142.30/25 & topped exactly at first resistance at 143.20/30.
Gold shorts at our selling opportunity at 1287/88 only offered a 2/3 point profit this time.
Silver selling opportunity at 1492/95 is working. Outlook remains negative as long as we hold below 1500.

Emini S&P we wrote: Strong resistance at 2885/90 the main challenge for bulls today. We topped exactly here & collapsed but longs at 2868/65 were stopped below 2860. We wrote: Further losses target 2855, 2950/48 & 2942/42, perhaps as far as 2835/32. We over ran to 2836 & shot higher to 2885/90 by the close.

Emini Dow Jones topped exactly at 1st resistance at 25970/990 & collapsed to our buying opportunity at 25470/450. We bottomed exactly here & shot higher to first resistance at 25970/990.

Does it get any better than that?

(Video Analysis in next post)
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About the author

JASON SEN Began to study technical analysis in 2006 and established Daytradeideas, the leading provider of daily technical analysis to independent & professional traders within the investment bank community for Stock Index, Energy & Fixed Income products, advising 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 with trade ideas – entry, exit and target levels in daily reports published before the Futures markets open in Europe.