Daily Forecast - 02 October 2015

S&P December contract

S&P

Emini S&P shot higher to 1918/19 as I write. Obviously first resistance is at 1923/24 & shorts need stops at 1931. Be ready to buy a break above here for the next target & resistance at 1941/42. A break above 1948 would then signal a move towards strong resistance at 1960/62 for a selling opportunity with stops at 1970.

Below 1912 is less positive & targets first support at 1899/98. Failure here however risks a slide to 1887/85 for a buying opportunity. As long as we hold above here, bulls continue to gain control. However longs need stops below 1880. We then watch for a test of important 1861/60 lows. A break lower targets 1855 before important August lows at 1831. This is absolutely crucial & we are looking for a bullish double bottom pattern here.


Emini Dow Jones December contract

Emini Dow Jones

Emini Dow Jones bounce back took us to 16,220/230. This is a big challenge this morning but above here targets strong resistance at 16,320/330. Shorts need stops above 16,370 to target 16,450 & perhaps as far as strong resistance at 16,500, which looks likely to hold a rally.

Failure to beat 16,220/230 targets 16,140/130. If we continue lower look for a buying opportunity at 16,070/060. Longs need stops below 16,010 to target minor support at 15,960/950. If however we continue lower look for 15,910 then 15,860/850 before September lows at 15,800.


E Mini Nasdaq December contract

E Mini Nasdaq

Emini Nasdaq has bounced back to strong resistance at 4200/4205, a big challenge this morning. A break above 4226/30 would now be required to build on the short term recovery & target minor resistance at 4245/50. If this does not hold a rally look for 4265/70, perhaps as far as strong resistance at 4290/95.

Failure to beat strong resistance at 4200/4205 targets 4180/76 then strong support at 4145/40. However a break below 4130 targets 4117/15 then only minor support at 4105. A break below 4090 risks a slide to 4075/70.


Eurostoxx December contract

Eurostoxx

EuroStoxx must hold above 3050 for a more positive outlook today & target 3075/77 then resistance at 3100/05. A break higher targets strong resistance at 3120/25 but above here meets yesterday's high at 3140/41. A break above would obviously be more positive & targets 3167/70. If we continue higher look for strong resistance at 3185/90. A break above 3200 however targets 3230.

First support at 3055/50 but below 3040 risks a slide to 3020/15. A break below 3005 adds pressure to target 2985 then September lows at 2970. A break lower sees a test of important August lows at 2951.


Ftse December contract

Ftse

FTSE first resistance at 6066/70 but above here targets 6085 then resistance at 6125/30. A break above 6145 targets 6170 then resistance at 6195/99. If we continue higher however look for a selling opportunity trend line resistance at 6220/30.

First support at 6015/10 but a break below 6000 targets minor support at 5990/85 then better support at 5950/45. On a break below 5930 we have a gap to fill at 5905/00.


Dax December contract

Dax

Dax unexpectedly weak yesterday. Holding above 4470 allows a recovery to strong resistance at 9580/90. In fact this held yesterday's bounce perfectly but above 9610 today targets only minor resistance at 9660. Further gains again meet strong resistance at 9765/75. Shorts need stops above 9805. Be ready to buy a break above 9800 however to target resistance at 9860/70. Further gains would target 9910/15, perhaps as far as 9950/60.

Failure to beat 9590 risks a slide back to support at 9470. Longs need stops below 9440 as further losses target 9380/70, perhaps as far as very important support at September lows of 9330/9300. Obviously a break & WEEKLY CLOSE TONIGHT below 9300 is a big sell signal.

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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