E-mini S&P September overran first support at 4453/43 but did not reach second support at 4425/20. Longs certainly worked as expected with a new all time high at 4476.
NASDAQ September longs at strong support at 14970/930 worked perfectly again yesterday targeting 15110/120.
E-mini Dow Jones September held in between minor support at 35310/290 and better support at 35090/35050.
Today’s Analysis
E-mini S&P hit our next target of 4475/79 and topped exactly here. Further gains always likely in this trend despite severely overbought conditions targeting 4500 and perhaps as far as 4540/45 this week. Downside is expected to be limited in the bull trend despite severely overbought conditions. There is no sell signal yet. First support at 4453/47. Second support at 4430/20. Longs need stops below 4410.
NASDAQ longs at strong support at 14970/930 target 15110/120 (hit) before a retest of the all time high at 15172. A break higher targets strong resistance at 15320/350. A break above 15400 targets 15700/750. Minor support at 15080/060, strong support again at 14970/930. Longs need stops below 14890. A break lower can target 14790/770.
E-mini Dow Jones September is higher as expected hitting 35547 now. Shorts are too risky with no sell signal in such a strong bull trend. Further gains target 35650/680 this week. Minor support at 35330/300, better support at 35090/35050. Longs need stops below 34990.
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