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S&P 500, NASDAQ, Dow Jones Forecast

By Jason SenStock MarketsAug 20, 2021 07:26AM ET
www.investing.com/analysis/sp-500-nasdaq-dow-jones-forecast-200599484
S&P 500, NASDAQ, Dow Jones Forecast
By Jason Sen   |  Aug 20, 2021 07:26AM ET
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E-mini S&P September broke 4395/91 for a sell signal targeting 4350/40. We bottomed exactly here as predicted with longs making up to 65 points profit.

NASDAQ futures September broke strong support at 14970/930 targeting 14790/770 and 14740/710. We bottomed exactly here for up to 200 ticks profit on shorts.

E-mini Dow Jones September longs at at 34900/850 were stopped below 34800 targeting 34650/600 and 34530/500. We bottomed exactly here with longs offered up to 400 ticks profit.

Today’s Analysis

E-mini S&P topped exactly at 4410/20 as predicted. A break above 4430 targets 4445/50, perhaps as far as 4475/79. Further gains always likely in this trend despite severely overbought conditions targeting 4500 and perhaps as far as 4540/45.

Holding 4410/20 risks a retest of support at 4350/40. Watch for a low for the day in the bull trend. A break lower however targets 4320, perhaps as far as 4305/00.

NASDAQ holding strong resistance at 14970/15000 re-targets 14790/770 and minor support at 14740/710. Further losses are possible as far as strong support at 14660/620. Longs need stops below 14580.

Gains are likely to be limited in the sideways trend with resistance at 14970/15000.

Shorts need stops above 15050. A break higher can retest 15130/170.

E-mini Dow Jones September topped exactly at strong resistance at 34850/900.

Holding here re-targets 34650/600 & first support at 34530/500. Longs need stops below 34450. A break lower targets very important support at 34360/330. As long as this holds we remain in a clear bull trend. A break below 34300 is a sell signal initially targeting 34170/130.

Strong resistance at 34850/900. Above 35000 is a buy signal initially targeting 35220/280.

Emini S&P 500 Chart
Emini S&P 500 Chart

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 realised. 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.

S&P 500, NASDAQ, Dow Jones Forecast
 

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S&P 500, NASDAQ, Dow Jones Forecast

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Comments (2)
Christian Sunday
Christian Sunday Aug 24, 2021 1:48AM ET
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Hi my name is Frank Johnson and you . AM A military personnel
Randall Paul
Randall Paul Aug 20, 2021 11:45PM ET
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s&p was a given yesterday perfect set up for longs
Christian Sunday
Christian Sunday Aug 20, 2021 11:45PM ET
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Hi AM Frank Johnson and you l live at United States of America
 
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