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S&P 500 E-Mini Breaks Important Support at 4220, Targets 4130

ByJason Sen
Published 10/30/2023, 05:50 AM
Updated 07/09/2023, 06:31 AM

US Market Outlook

Emini S&P December futures breaks important support at 4220/4200 tumbling to my target of 4130/20 with a low for the day exactly here. A break below 4110 is the next sell signal for 4070/65, probably as far as 4020/10.

Minor resistance at 4170/80 with strong resistance at 4205/15. Shorts need stops above 4225.S&P 500 Futures Chart

Nasdaq December futures crashed below support at 14590/530 for an important sell signal targeting 14430 and 14280/250 before a low for the day only 40 ticks from the next target of 14100/14000. This is also a strong support level so if tested today, (after Friday's inside day) there is a good chance of a low but longs need stops below 13950.

First resistance at 14450/550. Shorts need stops above 14600.Nasdaq 100 Futures Chart

Emini Dow Jones December broke the October low at 33070/020 for a sell signal and we then hit my targets of 32750/700 and 32450/400 with a low for the week exactly here. Nice quick profits if you managed to short.

A bounce from 32450/400 is not out of the question but longs look too risky to me. If we do recover look for resistance at 32800/830 then a sell opportunity 33000/33100. Shorts need stops above 33200.

However if we break below 32380 (as I think is likely) look for 32150/100 and even 31830/800.

Latest comments

it's good help me
but it's still under te 200 sma sell more
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