WTI, Gold, Emini S&P 500 and More - An Update by DayTradeIdeas

Emini S&P MARCH no stuck in a 170 tick range from 4280/60 up to very strong resistance at 4425/45 - shorting this level keeps working & eventually I think we will break to the downside but keep scalping the levels in the mean time.

Nasdaq MARCH holding first resistance at 14400/450 with a high for the day again on Friday, in what I think is a bear trend & therefore eventually we will break lower.

Emini Dow Jones MARCH also very volatile of course.

Update daily at 07:00 GMT.

Today's Analysis.

Emini S&P shorts at resistance at the 200 day moving average & strong resistance at 4425/45 keep working. If you are scalping watch the levels of 4410/00, 4360/50 & also 4310/00. Below here re-targets 4270/60 before a test of the best support at 4200/4180. Bulls must defend this level or we are staring at a test of 4000. I think they will fail eventually. Will be interesting to see the monthly candle on the close on Monday . Just be aware that a break lower targets 4145/25 & 4090/80, probably as far as 4055, just to get started.

Gains are likely to be limited with resistance at 4350/60, 4400/10 & of course very strong resistance at 4425/45. Shorts need stops above 4465. If we unexpectedly continue higher look for 4510/20.

Nasdaq outlook remains negative in my opinion despite the fact that we keep bouncing to first resistance at 14400/450. A break higher this time can retest 14660/690. I really do not expected further gains but there is very strong resistance at 14800/850.

Shorts at first resistance at 14400/450 target 14180/160, perhaps as far as 13950/900. Further losses obviously can retest 13750/700. However I would not rely on this holding a second time. A break lower is a sell signal targeting 13490/460, perhaps as far as 13400/360. Eventually we could meet an excellent buying opportunity at 13000/12900. Longs need stops below 12700.

Emini Dow Jones minor support at 34000/33900 but below here can target 33600/560 (a low for the day here on Friday), perhaps as far as 33350/300 before best support for today at 33050/33000. I do not think this will hold for long. Be ready to sell a break below 32900 targeting 32700 & probably as far as the best support for this week at 32500/300. Bulls must defend this level or we could see a test of 31000.

Minor resistance at 34200/250 & 344500/550. Above 35650 look for 34900/950.

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