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E-Mini S&P 500, Nasdaq: Trade Ideas With Stop Loss and Targets

ByJason Sen
Published 04/30/2024, 05:48 AM
ESH25
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NQH25
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30 April

  1. Emini S&P June futures made a high for the day exactly at strong resistance at 5145/55 for the second day and obviously, this level remains key to direction for this week.

  2. The series of 4 Dojis on the daily chart suggest the market may be running out of steam.

  3. Emini Nasdaq edging very slowly towards resistance at 18050/18150.

  • Emini S&P has recovered all the losses and bounced 100 points to 5134.

  • A high for the day exactly at strong resistance at 5145/55 on Monday and shorts need stops above 5165.

  • Targets: 5130, 5110, 5090. A move as far as 5050 is not out of the question.

  • A break higher however is a buy signal targeting 5175, 5190, and even 5220 is possible.

  • We should have support at 5050/5040 and longs need stops below 5025.

S&P Emini-Daily Chart

Nasdaq June futures caught me out as we shot higher to 17717

  • I think we are probably forming a bear flag or possibly a head & shoulders and I must wait to see if the pattern develops.

  • We should find strong resistance at 18050/18150 and shorts need stops above 18250.

  • Targets: 17850, 17750, 17650

  • A break above 18250 however is a buy signal targeting 18350, 18450, and 18550 is even possible. 

Trade Ideas

Video Analysis:

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