E-mini S&P September a low for the day exactly at strong support at 3920/10 on Tuesday and a bounce through resistance at 4010/20 for the next buy signal targeting a sell opportunity at 4080/90.
NASDAQ September a low for the day at first support at 12150/12000 on Tuesday and we shot higher to retest last week's high of 12655/695 yesterday. Anyone bag 500 ticks?
E-mini Dow Jones September a low for the day exactly at support at 31750/650. Longs worked perfectly as we hit my targets of 31900/32000 and 32300/400.
Remember when support is broken it usually acts as resistance and vice-versa.
Today's Analysis
E-mini S&P holding above 4010/20 targets a sell opportunity at 4080/4100. Shorts need stops above 4120.
Below 4000 meets strong support at 3970/60. Longs need stops below 3945.
NASDAQ longs at first support at 12150/12000 worked perfectly on the bounce to 14400/450 and last week's high of 12655/695. A break above 12700 targets 12900/13000.
Downside is expected to be limited with strong support at 12420/380. Longs need stops below 12350. Strong support at 12150/12000.
E-mini Dow Jones longs at 31750/650 offered up to 600 ticks profit on the recovery to my target of 32300/400. Further gains target strong resistance at the 100 and 500 day moving averages at 32650/700.
Downside is expected to be limited with first support at 32000/31900 then strong support at 31820/780. Longs need stops below 31700.