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Emini S&P 500 And NASDAQ Daily Forecast For February 15, 2019

Published 02/15/2019, 05:44 AM
Updated 07/09/2023, 06:31 AM

Emini SP 500 _ Nasdaq

S&P 500 Futures holding below 2740 tests minor support at 2735 then better support at 2725. A break below 2722 meets the best support at 2712/10. If we unexpectedly continue lower look for a buying opportunity at 2697/95, with stops below 2790.

Holding above 2745 targets 2755, 2765 & 2772/74. On further gains look for 2786/90, perhaps as far as 2805/10.

NASDAQ Composite failed at key resistance at the 200 day moving average at 7055/60 & trading around 7010/05 as I write this morning. A low for the day very possible at 6970/60 but longs need stops below 6945. Further losses target minor support at 6900/6895 then a buying opportunity at 6870/65, with stops below 6855.

200 day moving average has risen to 7065/70 so bulls need a break above 7080 (& close above for confirmation) for a strong buy signal.

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