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  1. Today's Analysis.
    1. Today's Analysis.

      We held a range of about 250 ticks last week so there are few decent trading opportunities until we see some movement again.

      FTSE 100 March holding a 100 tick range last week so same levels apply for today as we wait for a move.

      Remember when support is broken it usually acts as resistance & vice-versa.

      Update daily by 06:00 GMT.

      Today's Analysis.

      Dax March held a 115 tick range on Friday. Support at 15000/14950 (a low for the day just 33 tocks above yesterday) with a bounce from here to target minor resistance at 15170/200. If we continue higher look for strong resistance at the January high of 15300/330. Shorts need stops above 15380. A break higher is a buy signal.

      First support again at 15000/14950. A break lower targets 14870/850 then strong support at 14770/720.

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      FTSE March longs at first support at 7695/75 worked perfectly yesterday as we establish a sideways trend for an easy 50 tick profit on the bounce to strong resistance at 7745/65. (A high for the day here yesterday in fact) - Shorts need stops above 7785. A break higher is a buy signal targeting 7825 before a retest of 7850/60.

      First support again at 7695/75. Longs need stops below 7865.

      Emini S&P March reversed from my next target & 1 month rising trend line resistance at 4095/4100 to hit first support at 4045/35. A low for the day here but longs need stops below 4025.

      Nasdaq March wiped out all of Friday's strong gains as we establish a new sideways range.

      Emini Dow Jones March clearly in a sideways pattern for 2 months.

      Update daily by 06:00 GMT.

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      Today's Analysis.

      Emini S&P March held 1 month rising trend line resistance at 4095/4100 today after that 100 point jump I expected by the end of the week. The bearish engulfing candle on the 1 hour chart triggered a move to first support at 4045/35 exactly as predicted. Longs need stops below 4025. A break lower meets a buying opportunity at 4000/3990. Longs need stops below 3980.

      Longs at 4045/35 can target 4075, perhaps as far as resistance at 4100/4110. A break higher can retest the December high at 4140/45.

      Nasdaq March bearish engulfing candle on the 1 hour chart triggered a move to the downside exactly as predicted to first support at 12000/11950, with a low for the day right here. Longs need stops below 11850. A break lower today can target 11730/700.

      A bounce from first support at 12000/11950 targets 12300 then 12460/480.

      Emini Dow Jones hit my next target of 34180/200 on Friday then reversed on Monday breaking support at 33980/930 to hit my next target of 33800/750, with a low for the day exactly here. A break below 33700 however risks a slide to 33500/450.

      We should have strong resistance at 34150/200. Shorts need stops above 34300.

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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


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