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Emini SP 500: Gains Likely To Be Limited As The Outlook Turns Negative

Published 02/22/2019, 08:22 AM
Updated 07/09/2023, 06:31 AM

Emini SP 500 _ Nasdaq

Emini S&P gains are likely to be limited as the outlook turns negative with minor resistance at 2772/74 but above here targets 2780, perhaps as far as 2786/90. Highly unlikely but a break higher targets 2805/10. Above look for 2814, 2818 & 2822/24.

Outlook negative & failure to beat 2774/72 retest support at 2764/63. Better support at 2758/56 probably the best chance of a low for the day, but a break lower is a sell signal targeting 2750/48 & trend line support at 2745/43.

Nasdaq failure to beat 200 dma resistance at 7065/70 is a sell signal targeting 7033/30 & first support at 7010/05. On further losses look for 2nd support at 6980/76 & the best chance of a low for the day. Longs need stops below 6968.

The challenge for bulls is to beat 7090/95 before the close to target quite strong resistance at 7135/40. On further gains look for 7160/65 & 7190/95.

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