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