Emini S&P shorts at 3256/59 the dream trade as we topped exactly here & crashed again straight through good support at 3208/06 & beyond our lower target of 3187/85 to 3117.
Nasdaq shorts at the first 23.6% Fibonacci resistance at 9210/14 also the dream trade yesterday as we topped exactly here & crashed to all targets as far as 9070/40, support at 8975/65 & finally our a buying opportunity at 8840/30.
However, we overran to 8810 before a bounce.
Please note that Thursday’s reports will be updated at around midday GMT as I am traveling overnight. Apologies for the inconvenience.
Emini S&P bounces to first resistance at 3156/60 overnight. A break higher meets strong resistance at 3181/85. Shorts need stops above 3195. Further gains target 3205 & 3213/15. Try shorts at 3223/26, with stops above 3235.
Failure to beat first resistance at 3156/60 targets 3143 & good support at 3136/34. Holding below here, therefore, is more negative with a retest of 3119/17 likely. A break lower always possible for 3092/90 & 3082/80. Look for a buying opportunity at 3070/60, with stops below 3040.
Nasdaq has bounced to 8948 overnight. Holding minor support at 8900/8895 allows a retest of first resistance at 8955/60. If we continue higher look for 9000 then try shorts at 9035/45 with stops above 9075. A break higher is a buy signal targeting 9100/10 & a selling opportunity at 9175/85, with stops above 9220.
Key support at 8840/30. Longs need stops below yesterday’s low of 8810. A break lower is a sell signal targeting 8680/76 & important support at 8620/10. Try longs with stops below 8590. A break lower risks a slide to 8565/55.
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