Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

S&P 500 December Futures Test Resistance at 4435/45: Could They Head Lower?

Published 10/18/2023, 04:34 AM
Updated 07/09/2023, 06:31 AM

Emini S&P December futures beat minor resistance at 4390/4400 but we meet strong resistance at 4435/45. Shorts need stops above 4460.

A break higher is a buy signal targeting 4480/85 then 4510/15.

Shorts at 4435/45 target 4400/4390 then 4375/4365. If we continue lower look for 4340/35. A break below here targets 4300/4290, perhaps as far as 4270/65.S&P Emini-4-Hour Chart

Nasdaq December futures meets important trend line resistance again at 15300/350. This has held for the last 3 days but no sell-off yet.

Shorts need stops above 15390. A break higher retests last week's high at 15460/470. A break above here can target 15520 then 15580/620.

Shorts at 15300/350 target 15150/15100, perhaps as far as 15050/15000.Nasdaq-4-Hour Chart

Emini Dow Jones December tests strong resistance again at 33900/34100. Shorts needed stops above 34250. Unfortunately, we ran as far as 34305 and then reversed.

I do not know what to make of this today.

If we continue higher look for 34400/450 and even 34600/650 is possible.

However, holding below 33900 targets 33700/650. A break below 33600 then targets 33350/300.

Latest comments

THERE WILL BE NO HIGH ABOVE 4400 BY APRIL 1 2024 FOR SURE. ONLY MSFT & AAPL stand a chance after October correction October 30. Lug Nut.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.