Dow Jones Futures meets resistance at 26600/700. Shorts need stops above 26800. A break higher is a buy signal targeting resistance at 27050/150. Try shorts with stops above 27250. A break higher is a bigger buy signal initially targeting 27400/450.
Shorts at 26600/700 target 26300/250, perhaps as far as 26150/100. Further losses retest 25953. A break below 25950 keeps bears in control, despite oversold conditions targeting 25880 and 25750/700, perhaps as far as 25550/500.
Nasdaq 100 tests very strong support at 11100/000 in oversold conditions. Longs need stops below 10900 targeting the 2-year trend line 10800/750. A break below here is an important longer-term sell signal.
Longs at very strong support at 11100/000 need to see prices back above 11200 which then opens the door to 11300/350. A break above 11400 is a buy signal targeting 11500/550.
Trends
- Weekly Outlook Positive
- Daily Outlook Neutral
- Short Term Outlook Negative
