Emini S&P September a low for the day exactly at strong support at 3920/10 & a bounce to the first target of 3940/50.
Nasdaq September a low for the day at first support at 12150/12000.
Emini Dow Jones September a low for the day exactly at support at 31750/650.
Remember when support is broken it usually acts as resistance & vice-versa.
Update daily by 06:00 GMT.
Today’s Analysis.
Emini S&P bounces to 3940/50 & above here re-targets first resistance at 4010/20.
A break above 4020 for the next buy signal targeting a sell opportunity at 4080/90.
Strong support at 3920/10 of course. Longs need stops below 3890.
A break lower is a sell signal targeting 3875/70,perhaps as far as 3840/30.
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Nasdaq longs at first support at 12150/12000 can target first resistance at 14400/450.
A break above 14500 however can target 12600 before a retest of last week’s high of 12655/695.
A break above 12700 targets 12900/13000.
First support at 12150/12000, stop below 11900. A break lower is a sell signal targeting 11750/700, perhaps as far as 1 month trend line support at 11500.
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Emini Dow Jones longs at 31750/650 target 31900/32000. If we continue higher look for 32300/400.
Further gains target the 100 & 500 day moving averages at 32650/700.
I prefer buying on weakness at this stage with support again at 31750/650. Longs need stops below 31550.
Strong support at 31400/300. Longs need stops below 31200.
