Emini Dow Jones small double top sell signal in overbought conditions triggers profit-taking. Minor support at 29610/590 but below here targets 29450/400. On further losses look for strong support at 29050/29000. Try longs with stops below 28900.
Obviously, bulls need a sustained break above 30000. Above 30100 looks for 30220/250 and 30400/450.
NASDAQ already establishing a sideways consolidation with minor resistance at 12050/090. We topped exactly here yesterday in fact. If we continue higher look for 12120/130, perhaps as far as 12200/220.
Holding 12050/090 targets 11960/940 and in fact, we bottomed exactly here overnight.
On further losses look for 11880/840, perhaps as far as 11720/700. Strong support at 11650/600. Longs need stops below 11550. A break below lower is a sell signal targeting 11450, 11400/350 and 11250 before 100 day moving average support at 11250/220.
Trends
- Weekly Outlook Positive
- Daily Outlook Neutral
- Short Term Outlook Neutral
