Emini Dow Jones broke the most important support of the week
|Emini Dow Jones December contract
Emini Dow Jones bear trap as we spike below 24000 then rocket. Holding above first support at 24430/400 targets 24560/590 then strong resistance at 24730/760. Watch for a high for the day. Shorts need stops above 24800. A break higher targets 24970/25000 before very strong resistance at 25050/100. Try shorts with stops above 25200.
Minor support at 24230/210 but below 24200 risks a slide to 24090/070 before the low at 23900/890. A break below here is a sell signal targeting 23800/750. Below 23700 look for important support at 23480/450.
Nasdaq holding minor support at 6658/55 meets strong resistance at 6676/79. If we continue higher look for 6693/98. Above 6715 targets 6730/33, 6745/48 & perhaps as far as strong resistance at 6750/55. Shorts need stops above 6775.
Below 6650 risks a slide to 6635/30 then 6610. Downside is expected to be limited but below 6600 look for 6560/55 & 6540/30 before 6505/6495. Watch important support at 6460/50. A break below here is a longer term sell signal.
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