E-mini S&P September longs at second support at 4430/20 offered a 20 point profit this morning.
NASDAQ September longs at strong support at 14970/930 worked perfectly again yesterday initially targeting 15055/075.
E-mini Dow Jones September longs at strong support at 35090/35050 worked perfectly—we bottomed exactly here and shot higher to 35270 this morning.
Today’s Analysis
E-mini S&P longs at second support at 4430/20 target 4445/50, perhaps as far as 4475/79 for profit taking. Further gains always likely in this trend despite severely overbought conditions targeting 4500 and perhaps as far as 4540/45 this week. Downside is expected to be limited in the bull trend despite severely overbought conditions with support at 4430/20. Longs need stops below 4410. A buying opportunity at 4395/91, stop below 4380.
NASDAQ longs at strong support at 14970/930 target 15055/075, perhaps as far as 15110/120. Further gains retest the all time high at 15172. A break higher targets strong resistance at 15320/350. A break above 15400 targets 15700/750. Failure to beat 15055/075 risks a retest of strong support at 14970/930. Longs need stops below 14890. A break lower can target 14790/770.
E-mini Dow Jones September longs at strong support at 35090/35050 work on the bounce towards minor resistance at 35300/350. Further gains can retest 35547. Shorts are too risky with no sell signal in such a strong bull trend. A break higher targets 35650/680 this week. Holding minor resistance at 35300/350 risks a retest of strong support at 35090/35050. Longs need stops below 34990. A buying opportunity at 34900/850. Stop below 34800.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.