Emini Dow Jones lower to topped exactly here next target of 27770/750 with a bounce from just 24 ticks below here.
We traded lower to 27985/975 then 27878.
Nasdaq hit the buying opportunity at 8325/20, with stops below 8305…but this was very tricky on the move to 8297.
Emini Dow Jones holding first support at 27880/860 as I write after the bounce back yesterday. A break below 27820 re-targets 27770/750 of course. A break below 27720 risks a slide to a buying opportunity at 27610/590, with stops below 27550.
Holding first support at 27880/860 targets 27930/940. A break above 27960 targets 28000/020 and 28040/050. A break above 28055 allows a further recovery to 28130/140 before a retest of the all-time high of 28190/197. Obviously a break above 28200 acts as a buy signal.
Nasdaq now holding above support at 8360/55 as I write. A break lower targets 8335/30. Below 8320 retests 8300/8295. On further losses look for a buying opportunity at 8270/60 with stops below 8250.
Minor resistance at 8380/83 before a retest of yesterday’s high at 8422/27 and the all-time high of 8454/58. A break higher targets 8485/90.
Trends
Weekly outlook is positive
Daily outlook is positive
Short Term outlook is positive