Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

NASDAQ Best Support For The Day At 16230/180

By Jason SenStock MarketsNov 25, 2021 05:11AM ET
NASDAQ Best Support For The Day At 16230/180
By Jason Sen   |  Nov 25, 2021 05:11AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
  • S&P 500 Futures December bearish engulfing candle is likely to signal sideways trend so ease severely overbought conditions, although my first support at 4670/68 was not accurate because we overran again to 4656.

  • NASDAQ 100 Futures December longs at best support for the day at 16230/180 worked as we held above 16100 for a bounce to first resistance again at 16400/450.

  • Dow Jones Futures December shorts at first resistance at 35850/950 worked perfectly with a high for the day here, followed by buying into longs at strong support at 35450/350 and a low for the day here.

Today's Analysis

E-mini S&P is seeing recovery as expected, reaching minor resistance at 4700/10 but above that retargets 4720/23 & 4735/40 and 4750.

I am still expecting the downside to being limited with first support at 4670/60. Longs need stops below 4650. Next target & better support at 4630/20. Try longs with stops below 4615. The best support is at 4600/4395 this week - stop below 4385.

S&P 500 Index chart.
S&P 500 Index chart.

NASDAQ December up to 200 ticks profit on our longs as we hit first resistance again at 16400/450. Shorts need stops above 16500. A break higher targets 16550/600 before a retest of the all-time high at 16630/767.

Best support for today at 16200/160. Try longs with stops below 16100. Hopefully, that gives us enough room. However, a break lower sees 16180/230 working as resistance to target 16030/010 before a buying opportunity at 15900/850. Try longs with stops below 15750.

Nasdaq Chart
Nasdaq Chart

E-mini Dow Jones December longs at 35450/350 worked perfectly on the bounce to the first resistance at 35850/950 for an easy 400 tick profit. A break above 36000 should be a buy signal targeting 36230/250.

Minor support at 35750/700 but below here targets 35600. Strong support again at 35450/350. A break lower, however, targets 35100/35000.

Watch for a bounce from here on the first test. However, a break lower meets a buying opportunity at 34800/750, with stops below 34650.

NASDAQ Best Support For The Day At 16230/180

Related Articles

NASDAQ Best Support For The Day At 16230/180

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email