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S&P, NASDAQ, Dow Jones Daily Forecast

By Jason SenStock MarketsApr 27, 2021 08:29AM ET
S&P, NASDAQ, Dow Jones Daily Forecast
By Jason Sen   |  Apr 27, 2021 08:29AM ET
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E-mini S&P 500 JUNE up one day, down the next day in what appears to be the start of a sideways consolidation phase as we retest the new all time high of 4186.75.

NASDAQ JUNE bulls must hold prices above 13900/850 this morning.

E-mini Dow Jones bottomed exactly at best support at 33860/830 & longs worked perfectly on the bounce towards minor resistance at 33950/3400.

Today’s Analysis

E-mini S&P retests the new all time high at 4186.75 (which just happens to be bang on the next target of 4187/88). A break higher targets 4205/07. If we continue higher look for 4220/22 and 4231/33.

First support at 4155/51. A break lower to targets 4135/32. Strong support at 4115/10. Below 4100 risks a slide to strong support at 4075/72.

NASDAQ trying a retest of the all time high at 14060. A break higher opens the door to further significant gains, initially targeting 14140/150 and 14250/270, perhaps as far as 14400.

Failure to beat the all time high at 14060 risks a small double top reversal pattern. Best support at 13900/860. Longs need stops below 13820. A break lower to risks a slide to 13790/770, perhaps as far as last week’s low at 13720/700. Further losses this week meet strong support at 13640/600.

E-mini Dow Jones bounce towards minor resistance at 33950/34000. Further gains retest the all time high at 34140/144. A break higher however targets 34220/240 and 34330/350.

Strong support again at 33860/830. A break below 33800 risks a slide to the best support for today at 33660/610. Longs need stops below 33560. A break lower targets 33450/440 and strong support at 33290/240. Longs need stops below 33190.

Emini S&P Chart
Emini S&P 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, NASDAQ, Dow Jones Daily Forecast

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