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Jason Sen talks Emini S&P, Emini Dow Jones and Nasdaq positions - January 17th

Jason Sen talks Emini S&P, Emini Dow Jones and Nasdaq positions - January 17th | FXMAG.COM
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  1. Today's Analysis.

    Emini S&P March - It's make or break for Emini S&P today as we test:

    The 1 year 38.2% Fibonacci resistance at 4000

    The 5 month 61.8% Fibonacci resistance at 4012.

    The 1 year downward sloping trend line at 4020.

    In overbought conditions.

    Even on the short term charts, taking my Fibonacci levels from the December high, we have a 61.8% resistance at 4008.

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    jason sen talks emini s p emini dow jones and nasdaq positions january 17th grafika numer 1jason sen talks emini s p emini dow jones and nasdaq positions january 17th grafika numer 1

    Nasdaq March has recovered 50% of the December loss & closed above the 100 day moving average at 11565.

    jason sen talks emini s p emini dow jones and nasdaq positions january 17th grafika numer 2jason sen talks emini s p emini dow jones and nasdaq positions january 17th grafika numer 2

    We have a 3 month bear flag in the Emini Nasdaq as we test the red 200 week moving average resistance.

    jason sen talks emini s p emini dow jones and nasdaq positions january 17th grafika numer 3jason sen talks emini s p emini dow jones and nasdaq positions january 17th grafika numer 3

    Emini Dow Jones March

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    Update daily by 06:00 GMT.

    Today's Analysis.

    Emini S&P March held resistance at 4000/4020. Targets for shorts are 3950/40 & 3900/3890.

     

    A sustained break above 4030 signals a bullish breakout & I have to take this as a medium term buy signal. A minimum 100 point jump would then be expected.

    Nasdaq March we wrote: break above 11570 can target 11650/700. A high for the day at 11638, so I was pretty close!! If we continue higher look for 11900/950.

    A minor negative candle yesterday but I must wait for a sell signal - no sign of a turn yet, although bulls need prices to hold above 11580/530 to remain in full control. A break below 11500 risks a slide to 11450/400, perhaps as far as 11250.

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    Emini Dow Jones support at 34100/050 with a bounce to target 34450/500. Further gains can target 34700.

    Until we get a sell signal, we can buy at support at 34100/050. Below 34000 however risks a slide to support at 33870/840.


    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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