Jason Sen | Mar 07, 2024 06:46AM ET
1. Emini S&P March futures collapsed quickly, all the way back towards Thursday's low and strong support at 5060/55, with a low for the day 3 points above on Tuesday. Yesterday we shot higher to strong resistance at 5115/25, with a high for the day at 5134.50, keeping you in the shorts (if you tried this trade).
2. Nasdaq March futures longs at first support at 18000/17900 worked perfectly on the bounce from 17,832 to the target 18130/170 area, with a high for the day here in fact, exactly as predicted.
3. Emini Dow Jones March futures recovered from Tuesday's downside target of 38550/500,
Emini S&P: unexpectedly collapsed almost as far as strong support at 5060/55, without warning, although we are severely overbought of course. Longs need stops below 5045.
Nasdaq March futures longs at first support at 18000/17900 worked on the bounce to 18130/170, with a high for the day as predicted.
Emini Dow Jones March shot higher to from 38550/500 to hit the target and resistance at 38780/820. Shorts needed stops above 38880, which was tricky as we reversed from just 20 ticks above here at 38900.
If you held on to the short position, we immediately collapsed to 38600, offering up to 200 ticks profit on the day.
If we continue higher we could meet strong resistance at 38950/39000. Only above here puts bulls back in full control.
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