Stocks soar from strong support levels

by · FXStreet
  • Emini S&P December soars to 5894 as Trump leads.
    The low & high for the last session were 5735 - 5823.
  • Emini Nasdaq December made a low for the day week exactly at the buying opportunity at 20100/20000.
    Last session high & low for the last session were: 20041 - 20385.
  • Emini Dow Jones December recovers as far as 43019.
    Last session high & low for the last session were: 41917 - 42460.

Emini S&P December futures

  • Emini S&P made a low for the week exactly at very strong support at the October low at 5730/5724.
  • Longs worked perfectly as we shot higher to resistance at 5790/5800 but we continue higher to beat resistance at 5830/34 & reach5894 as I write.
  • A break above 5900 can retest the all time high at 5927.
  • A break higher is a buy signal targeting 5970/75 & 6000/6005.
    On further gains look for 6026/29 & 6050/54.
  • Support at 5855/50 but below 5845 look for 5830/25.

Nasdaq December futures

  • We hit the next downside target & support at 20100/20000 with a low for the week here.
  • Targets of 20300/320 then 20390/410 & strong resistance at 20470/510 were hit for up to 300 ticks profit but shorts here stopped above 20550.
  • We reached 20640 & if we continue higher look for 20700/710 then a retest of the October high at 20760/788
  • Above 2800 can retest the all time high at 20940/983.
  • First support at 20500/460 but we could find better support at 20400/20350 & longs need stops below 20250.

Emini Dow Jones December futures

  • We held resistance at 42500/600 yesterday but over night we shot higher to 43019.
  • First support at 42750/710 but longs need stops below 42650.
  • A break lower can target 42450/400 & longs need stops below 42350.
  • If we continue higher through 43050 look for 43260/290 then 43400/430.

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