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S&P 500, NASDAQ, Dow Jones Forecast

ByJason Sen
Published 11/02/2021, 06:56 AM
Updated 07/09/2023, 06:31 AM

E-mini S&P December on the way to the next target of 4625/35 this week. Longs at first support at 4590/85 starting to work.

NASDAQ December closed at the new all time high at 159864 keeping the outlook positive for this week as we hit the next target of 15900/950.

E-min Dow Jones December making a clear break above the all time high at 35540/550 for a buy signal as we hit the next target of 35800/850 and now look for 36000/100.

Daily analysis

E-mini S&P longs at first support at 4590/85 are expected to target 4625/35, but a high for the day is likely if tested today. Shorts are very risky of course in the bull trend. A break above 4645 is the next buy signal. First support at 4590/85. Longs need stops below 4575. Strong support at 4545/35. Longs need stops below 4525.

E-mini S&P 500 Chart

NASDAQ December is now expected to target 15900/950 (hit yesterday) and now 16050/080. Downside is expected to be limited in the bull trend with first support at 15780/750. Stop below 15720. A break lower targets 15670 with strong support at 15580/540. Longs need stops below 15500.

E-mini Dow Jones December now targeting 35800/850 and 36000/100, even as far as 36250/280. Downside is expected to be limited with minor support at 35670/650 and 35525/500. A buying opportunity at 35320/280 with stops below 35250.

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