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S&P 500 Futures Forecast: Break Below 3890 targets 3825

By Jason SenStock MarketsJan 20, 2023 12:16AM ET

www.investing.com/analysis/sp-500-futures-forecast-break-below-3890-targets-3825-200634533

By Jason Sen | Jan 20, 2023 12:16AM ET

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S&P 500 Futures March shorts at the selling area of 4000/4020 hit all my targets as far as 3900/3890 (with a low for the day, just a point above here yesterday). Hopefully, you bagged 100 points this week.

Nasdaq 100 Futures March, we wrote: the break lower can target 11470/430 and then support at 11340/300.

Spot on, as we made a low for the day at 11308 - it could not be more accurate.

Dow Jones Futures March shorts activated on my sell signal made 1000 ticks profit this week.

Today's Analysis

Emini S&P March shorts at 4000/4020 worked on the expected collapse to my 3900/3890 target. We should have resumed the bear trend to sell a bounce to resistance at 3930/35...perhaps as far as 3950/55. Shorts need stops above 3960.

A break below 3890 is a sell signal targeting 3825/15.

As I suspected, Nasdaq March collapsed from 11650/700 to hit support at 11340/300 with a high for the day. Longs are too risky now. A break below 11250 is the next sell signal targeting 11150/100, perhaps as far as 10980/950.

We should have resistance at 11530/560 & 11650/700.

Emini Dow Jones shorts at 34000/34200 worked perfectly as we hit all targets as far as 33100/33000 with a low for the day exactly here.

An easy 1000 ticks profit this week.

A break below 33000 is a sell signal targeting 32750/700.

Gains will likely be limited, so we sell into resistance at 33450/550. Stop above 33650.

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US 30	33,965.9	+16.5	+0.05%
US 500	4,068.9	+8.5	+0.21%
Dow Jones	33,978.08	+28.67	+0.08%
S&P 500	4,070.56	+10.13	+0.25%
Nasdaq	11,621.71	+109.30	+0.95%
S&P 500 VIX	18.51	0.00	0.00%
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S&P 500 Futures Forecast: Break Below 3890 targets 3825

Today's Analysis

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