Emini S&P beat strong resistance at 3261/64 to target 3276/78 and quite strong resistance at 3289/91 but shorts were stopped above last week’s high at 3297.
NASDAQ powers higher through last week’s high at 9245/48 and the January high at 9283/87 for a new all time high at 9369.
Emini S&P: You can’t beat the bulls for long in this trend. First support at 3288/84 but below 3280 risks a slide to 3273/71. Downside likely to be limited. Try longs at 3261/59 with stops below 3255.
Holding first support at 3288/84 targets 3295/97 and the recovery high at 3305. A break higher targets 3310/12 and 3319/21, perhaps as far as 3325.
Nasdaq rockets to a new all time high. No question the bulls remain in control after a small correction. A break above the new all time high at 9369 targets 9390/95 and 9410/20. A break above 9425 targets 9460/65.
Minor support at 9315/10 then better support at 9285/80. Downside is expected to be limited as shorts get squeezed but below here look for support at 9250/46.