US stock markets bounce from our buy levels.

18 April

  • Emini S&P June futures headed lower as predicted to my target & strong support at 5050/40.
    We made a low for the day exactly here as predicted.
  • Emini Nasdaq if you were short on the break below 18000 or managed to short on the bounce towards this level, the shorts worked perfectly as we hit my target of 17680/670 for profit taking.|
    A chunky 300 ticks profit.

Emini S&P: broke 5140 as expected to trigger my sell signal targeting strong support at 5050/40. A low for the day exactly here & an easy 900 tick profit on the trade.

  • Targets for our longs are 5080 & 5110. If we continue higher above 5120 look for 5140/50 for profit taking on any remaining longs.
  • Strong resistance at 5150/60 & shorts need stops above 5170.

Nasdaq June futures: collapsed breaking my buying opportunity at 18050/18000 for a short term sell signal targeting 17840/830 & 17680/670 for profit taking on shorts.

  • We now have long positions at my buying opportunity at 17640/580, with a low for the day exactly here yesterday & longs need stops below 17500.
    Targets:  17830, 17950
  • Obviously we have strong resistance again at 18,000/18,100 & shorts need stops above 18,200.

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With almost 40 years experience, Jason Sen began trading his own account on the floor of the London International Financial Futures Exchange at the age of 19, in 1987. He spent 15 years specialising in market making interest rate and index options on floor then moved on to trading forex on screen at the turn of the millennium. He is also recognised as a skilled technical analyst developing this expertise for the last 20 years.

His extensive trading experience from the LIFFE trading floor to screen trading and deep understanding of technical analysis give him a thorough understanding of the financial markets and the factors that drive them.

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