Investing.com - Financial Markets Worldwide

US Markets Stuck in Consolidation Channels Ahead of Today's CPI Report

Published 02/12/2025, 03:25 AM
ESH25
0.03%
1YMH25
0.04%
NQH25
0.08%
  1. Emini S&P March held a small range yesterday.
    The low & high for the last session were 6058 - 6098.
    (To compare the spread to the contract you trade)
  2. Emini Nasdaq March made a high for the day just below resistance at 21900/970
    Last session high & low for the last session were: 21669 - 21871.
  3. Emini Dow Jones March low for the day yesterday exactly at support at 44500/400
    Last session high & low for the last session were: 44395 - 44749.

Emini S&P March Futures

  • Emini S&P remains in an erratic & random sideways consolidation with no pattern or trend to guide us.
  • We are stuck in a 1 week range of just 36 points from 5987 up to 6123
  • We can only try to scalp short term levels for a quick turn.
  • Minor support again at 6030/20 & longs can target 6060/6070.
  • Try this trade again today, but longs need stops below 6010.
  • A break below 6010 meets support at 5990/5980 & longs need stops below 5970.
    Targets: 6000 & 6010
  • A break below 5970 risks a slide to 5940/35 for profit taking on any shorts
  • Minor resistance at 6110/20.
  • A break above the 1 week high of 6123 can retest the all time high at 6156/62.

S&P Futures 4-Hours Chart

Nasdaq March Futures

  • Emini Nasdaq reversed from just below resistance at 21900/970
  • Again, we remain in an erratic & random sideways consolidation with no pattern or trend to guide us.
  • In the sideways consolidation we could slide again towards 21550, perhaps as far as 21340/21280.
  • If we continue lower look for a retest of support at 21050/20950.
  • Longs need stops below 20850.
  • Resistance at 21900/970 & bulls need a break above the all time high at 22152 for a new buy signal this week.

Nasdaq Futures-4-Hours Chart

Emini Dow Jones March Futures

  • Emini Dow Bulls need a break above the all-time high at 45227 for a buy signal.
  • Until then risks are to the downside.
  • A low for the day yesterday exactly at support at 44500/400 & if tested again longs need stops below 44350.
  • Targets: 44650, perhaps as far as 44750.
  • A break lower see 44400/44500 act as resistance targeting support at 44100/43950.
  • Longs need stops below 43850.

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