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E-Mini Dow Jones Hits a New All Time High - Here's How to Plan Your Trades

Published 11/27/2024, 02:14 AM
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  • Emini S&P December is choppy again as we try to retest the all-time high at 6053.
  • The low and high for the last session were 5976 - 6044. (To compare the spread to the contract you trade)

  • Emini Nasdaq December tests resistance at 20960/990 and holds below 21090
  • Last session high and low for the last session were: 20755- 21024.

  • Emini Dow Jones December bounced from support at 44640/560 to a new all-time high at 45002.
  • Last session high and low for the last session were: 44532 - 45002.

Emini S&P December Futures

  • Emini S&P made a low for the day exactly at minor support at 5980/70.
  • A break below 5960 therefore should be a short-term sell signal targeting 5930/25.
  • Obviously, bulls must clear 6055 to be fully in control again targeting 6078/80 and 6095/99, perhaps as far as 6126/31.

S&P Futures Hourly Chart

Nasdaq December Futures

  • Emini Nasdaq Resistance again at 20960/990. Shorts need stops above 21090.
  • A break higher targets 21140 and 21190.
  • It's difficult to find tradeable levels on the downside as we have been consolidating for 2 months.
  • There may be minor support at 20870/830 but a break below 20750 risks a slide to the best support for this week again at 20420/380 and longs need stops below 20300.
  • Just note that the last 6 daily candles have long lower wicks so it's obviously buyers are ready to jump in aggressively on weakness.

Nasdaq Futures Hourly Chart

Emini Dow Jones December Futures

  • Emini Dow Longs at support at 44640/560 worked perfectly on the bounce towards my target of 45020/050 and even 45400 is possible this week.
  • If we continue higher look for 45610/650.
  • Support at 44580/520 and longs need stops below 44450.

Dow Jones Hourly Chart

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