Emini Dow Jones And Nasdaq Forecast For Dec 9, 2019

By Jason SenETFsDec 09, 2019 06:12AM ET

www.investing.com/analysis/emini-dow-jones-and-nasdaq-forecast-for-dec-9-2019-200491110

Emini Dow Jones And Nasdaq Forecast For Dec 9, 2019

By Jason Sen | Dec 09, 2019 06:12AM ET

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Emini Dow Jones has weak sell signals with a dragonfly doji on the severely overbought weekly chart and negatively diverging stochastic on the daily chart.

Nasdaq recovery reaches 8415.

Emini Dow Jones shorts are always risky in such a strong bull trend but there do appear to be risks to the downside. Holding the recovery high of 28037/047 targets 27940/930. On further losses look for 27985/975, perhaps as far as 27820/800.

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 severely overbought in the short term and although there is no sell signal and shorts in a bull trend are a very bad idea, I cannot help thinking are could head lower this week. Minor support at 8383/80 then strong support at 8360/55 could hold the downside today. A break below 8345 however targets a buying opportunity at 8320/15, with stops below 8300.

A break above 8415 targets 8435 and 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

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US 30	42,568.0	-233.5	-0.55%
US 500	5,732.6	-37.6	-0.65%
Dow Jones	42,801.72	+222.64	+0.52%
S&P 500	5,770.20	+31.68	+0.55%
Nasdaq	18,196.22	+126.97	+0.70%
S&P 500 VIX	23.37	-1.50	-6.03%
Dollar Index	103.71	-0.11	-0.10%

Crude Oil WTI	66.75	-0.29	-0.43%
Brent Oil	70.36	+0.90	+1.30%
Natural Gas	4.673	+0.274	+6.23%
Gold	2,920.22	+6.12	+0.21%
Silver	32.955	+0.146	+0.44%
Copper	4.6975	-0.0125	-0.27%
US Soybeans	1,025.00	-2.25	-0.22%

U.S. 10Y	4.276	-0.042	-0.97%
U.S. 30Y	4.601	+0.022	+0.44%
U.S. 5Y	4.083	+0.025	+0.74%
U.S. 3M	4.303	+0.002	+0.00%
US 10Y T-Note	110.88	+0.33	+0.30%
Euro Bund	127.66	-0.81	-0.63%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	239.07	+3.74	+1.59%
NVIDIA	112.69	+2.12	+1.92%
Alphabet A	173.86	+1.51	+0.88%
Tesla	262.67	-0.78	-0.30%
Amazon.com	199.25	-1.45	-0.72%
Netflix	891.11	-15.25	-1.68%
Meta Platforms	625.66	-2.27	-0.36%

Emini Dow Jones And Nasdaq Forecast For Dec 9, 2019

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