E-mini S&P September struggles at the only resistance of any importance for this week despite a new all time high at 4353.
NASDAQ September higher as predicted to the next target of 14850 with a new all time high at 14883.
E-mini Dow Jones September longs at best support at 34320/280 worked perfectly yet again yesterday on the bounce to our targets of 34430/460 and 34550/570.
Today’s Analysis
E-mini S&P 4340/45 is the only resistance of any importance for this week. A break above 4350 therefore should be a buy signal targeting 4365/70 and eventually resistance at 4400/05.
No sell signal despite severely oversold conditions so we must assume the downside will be limited in the strong bull trend. First support at 4336/33. Below 4328 risks a slide to 4311/07. Longs need stops below 4300.
NASDAQ higher to 14850 but we expect strong resistance at 14940/990.
The downside should be limited in the strong bull trend. First support at 14725/705. Second support at 14600/580.
E-mini Dow Jones September longs at best support at 34320/280 worked perfectly on the bounce to 34430/460 and 34550/570. Further gains in the bull trend retest of September contract high at 34755. A break higher can target the all time high at 35000.
Downside is likely to be limited with best support at 34320/260 but longs need stops below 34200. A break lower can target support at 34100/34000.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.