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Nasdaq Futures Hit Buying Zone Again—Break or Bounce?

Published 03/12/2025, 01:54 AM
Updated 07/09/2023, 06:31 AM
ESH25
0.86%
1YMH25
-0.01%
NQH25
1.37%
  1. Emini S&P March made a high for the day exactly at resistance at 5645/50.
    Shorts worked perfectly as we collapsed to the buying opportunity at 5540/30 (with a low for the day exactly here) and immediately rocketed 100 points
    The low and high for the last session were 5534 - 5651.
    (To compare the spread to the contract you trade)
  2. Emini Nasdaq March break below 20000 was a sell signal targeting 19850/800, 19550/500 and a buying opportunity at 19250/150
    A low for the day exactly here again yesterday.
    Last session high and low were: 19140 - 19686.
  3. Emini Dow Jones March made a high for the day exactly at resistance at 42100/200 and collapsed to my target of 41400/41200 - a low for the day here.
    Last session high and low for the last session were: 41219 - 42128

Emini S&P March Futures

  • Emini S&P shorts at resistance at 5645/50 worked perfectly as did longs at support at 5540/30.
  • I expect resistance at 5678/88 today and shorts need stops above 5700.
  • Targets: 5650, 5635, 5620
  • A break above 5700 can target 5730 and resistance at 5770/80. Shorts need stops above 5790.
  • Support again at 5540/30 and longs need stops below 5520.
    Targets: 5555, 5570, 5585.
  • A break below 5510 is a sell signal targeting 5500, 5680, perhaps as far as 5660.

Emini S&P Daily Chart

Nasdaq March Futures

  • Emini Nasdaq made a low for the day exactly at the buying opportunity at 19250/150.
  • Again longs need stops below 19000 on a retest today - perhaps this will be the low for the correction.
  • A break below 19000 is a sell signal targeting 18850, 18600
  • Minor resistance at 19600/620 was tested with a high for the day at 19686 and we should struggle here again today. Yesterday, I said we may reverse and retest the buying opportunity at 19250/150.
  • This is exactly what happened and could do again today
  • However, a break above 19700 can target 19850/950 with a good chance of a high for the day here, but shorts need stops above 20050

Emini Nasdaq-Daily Chart

Emini Dow Jones March Futures

  • Emini Dow made a high for the day exactly at resistance at 42100/200 and collapsed to my target of 41400/41200 with a low for the day exactly here.
  • A perfect call!!
  • 41300/41200 is important support today.
  • Targets on the bounce are 41650 and 41800.
  • I expect strong resistance at 42100/200 and shorts need stops above 42350.
  • A break below 40950 is a sell signal targeting 40700/600, perhaps as far as 40200.

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