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S&P 500 E-Mini, Nasdaq, and Dow Hit Critical Support Amid Sell-Off

Published 02/28/2025, 03:13 AM
ESH25
1.48%
1YMH25
1.37%
NQH25
1.52%
  1. Emini S&P March collapsed on Thursday from strong resistance at 6010/6015
    The low and high for the last session were 5873 - 6014.
    (To compare the spread to the contract you trade)
  2. Emini Nasdaq March broke 21000 for a sell signal
    Last session high and low for the last session were: 20583 - 21386.
  3. Emini Dow Jones March shorts at resistance at 43750/850 worked perfectly in the collapse from 43949.
    Last session high and low for the last session were: 43345 - 43843.

Emini S&P March Futures

  • Emini S&P shorts at strong resistance at 6010/6015 worked perfectly with a high for the day exactly here before the collapse to 5985
  • The break below 5975 was expected and triggered losses as predicted for a retest of support at 5925/5915.
    Up to 1000 points potential profit on this trade.
  • Longs however stopped below 5900.
  • Again, the break below 5900 was a sell signal targeting 5865/60 for profit-taking on shorts for another profitable trade on the day.
  • Emini S&P now tests very important trend line support at 5865/60.
  • Longs need stops below 5850. Targets: 5905, 5915
  • A break below 5850 is an important sell signal targeting 5815/10, perhaps as far as support at 5775/5765.

Emini S&P 500 Daily Chart

Nasdaq March Futures

  • Emini Nasdaq could not quite make it to resistance at 21450/500 and crashed below support at 21200/100 this time for a sell signal targeting 21700 for profit taking.
  • However, we fell as far as 20583.
  • A buying opportunity at 20450/350 and longs need stops below 20250.
  • A break lower sees 20350/450 act as resistance targeting 20050/2000 for profit-taking before the weekend.
  • Longs at 20450/350 can target 20750/800 and even 20950/21000 is not out of the question. 

Nasdaq Futures-Daily Chart

Emini Dow Jones March Futures

  • Emini Dow Shorts at resistance at 43750/850 worked perfectly as we collapsed to my target and the 16-month ascending trend line at 43100/43000.
  • We are only 66 ticks away as I write overnight.
  • Up to 700 ticks of profit potential on this trade.
  • A bounce from 43100/43000 is possible but longs need stops below 42850.
  • Gains are likely to be limited with first resistance again at 43750/850 and shorts need stops above 44000.

Dow Futures-Daily Chart

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