Daily Forecast - 22 July 2015

E Mini Nasdaq September contract

E Mini Nasdaq

Emini Nasdaq collapsed towards an excellent buying opportunity at 4605/00. Buy here today, stop 4685. Target1 @4625 (trail stop to entry), T2 @4650. However be ready to sell a break below 4690 to target 4555/50 & a good chance of a low for the correction here. Buy here, stop 4535. Target1 @4575 (trail stop to entry), T2 @4600.

Holding support at 4605/00 triggers a recovery to 4625/30, perhaps as far as 4555/60 with a good chance of a high for the day here. If however we unexpectedly continue higher, look for a retest of this week's high at 4683/86 for a selling opportunity.

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