Dow Jones And NASDAQ Futures: Outlook Positive

Published 03/08/2021, 06:46 AM
Updated 07/09/2023, 06:31 AM
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Dow Jones futures have resistance at last week’s high at 31550/650. A break higher targets 31800/900 before a retest of the all time high 32000/033.

Failure to beat resistance at last week’s high at 31550/650 targets first support at 31350/250. A break below signals further losses to 30000/950 and 30800 before a retest of second support at 30650/550. Longs need stops below 30450. A break lower is a medium term sell signal, initially targeting 30300/250, perhaps as far as 30000/950.

NASDAQ has key resistance at 13600/650 today. Shorts here target 12500 and 12330/330, perhaps as far as strong support at 12200/160. Watch for a low for the day again today, but also be ready to sell a break below 12100.

Shorts at 12600/650 need stops above 12700. Strong resistance again at 12850/900.

Shorts need stops above 12950.

Trends

  • Weekly Outlook Positive
  • Daily Outlook Positive
  • Short Term Outlook Positive

DJ Mini Chart

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