Emini Nasdaq hits a new all time high

by · FXStreet
  1. Emini S&P December tested support at 6050/45 with a bounce from here to 6090 yesterday. The low & high for the last session were 6051 - 6090. (To compare the spread to the contract you trade)
  2. Emini Nasdaq December made a low for the week at strong support at 21390/330 & yesterday we hit my next target of 21920 & are closing in on 22200/250. Last session high & low for the last session were: 21762- 22152.
  3. Emini Dow Jones December continues lower to 43811 with losses 8 days in a row. Last session high & low for the last session were: 43721 - 43993.

Emini S&P December futures

  • Emini S&P support at 6050/45 is obviously key to direction again this week.
  • Longs here can target 6057, 6066, 6070, perhaps as far as 6081/83. (all targets were hit yesterday)
  • Just be aware that a break below 6040 can target a buying opportunity at 6020/10 & longs need stops below 6000.
  • On a break above 6112 we can target 6126/31 & eventually 6170/75 is possible.

Nasdaq December futures

  • The break above 21840 targets 21920 (hit), perhaps as far as 22200/250 this week.
  • On further gains look for 22290/299.
  • First support at 21920/820 & longs need stops below 21750.

Emini Dow Jones December futures

  • We broke support at 44580/520 to target support at 43930/850 as predicted  & longs here were stopped below 43750.
  • A break lower tests the 50 day moving average at 43590/550.
  • If we continue lower we meet the 4 month ascending trend line at 43300/250.
  • Resistance at 44000/100 could see a high for the day but shorts need stops above 44200.

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