- E-Mini S&P September futures collapsed through support at 5545/35 for a sell signal targeting 5505/00 and we fell as far as 5462. The low and high for the last session were 5462 - 5585.
- E-Mini Nasdaq September futures shorts at resistance at 20030/080 worked perfectly hitting all targets as far as 19600. Last session high and low for the September futures contract: 19168 - 19883.
- E-Mini Dow Jones September futures headed lower as predicted to my strong support at 40100/40000. A low for the day exactly here. Last session high and low for the September futures contract: 40053 - 40583.
E-Mini S&P September Futures
1. E-Mini S&P crashed through support at 5545/35 for a sell signal and hit 5462.
2. Minor resistance at 5500/05 could see a high for the morning but the best sell opportunity for the day is at 5520/25 and shorts need stops above 5535.
Targets: 5505, 5490, 5470
3. A break above 5535 is a buy signal targeting 5545 and 5560.
4. A break below 5458 is a sell signal targeting 5425 and an excellent buying opportunity at 5410/00.
Longs need stops below 5385.
Nasdaq September Futures
1. E-Mini Nasdaq shorts at resistance at 20030/080 worked perfectly hitting all targets as far as 19600 for a quick and easy potential 450 tick profit
2. However longs at the buying opportunity at 19530/470 were stopped below 19400 giving back around 100 ticks of the profit on the day.
3. There is minor support in the 19200/100 area but I do not feel confident that it will hold as downside momentum builds.
If you fancy the gamble, stop below 19,000.
4. Further losses can target strong support at 18830/730.
Longs need stops below 18600.
E-Mini Dow Jones September Futures
1. We wrote: Further losses were expected in E-Mini Dow Jones to 40700/650 and 40330/300 and even a test of strong support at 40100/40000 is possible into next week.
2. We hit the target and strong support at 40100/40000, with a low for the day exactly here.
Targets for the bounce: 40300 and 40400 for profit taking.
3. Strong resistance at 40400/500 and shorts need stops above 40600.
4. A break below 39900 is a sell signal for today targeting 39600/500 for profit taking on shorts.