Emini Dow Jones: Bulls need a break above 30770
|Emini Dow Jones – Nasdaq
Emini Dow Jones March topped exactly at key resistance today at 30690/730 withshorts offered up to 200 ticks profit on the slide to support at 30540/520. Howeverwe over ran to 30413 before another selling opportunity at 30690/730.
Nasdaq March topped exactly at the all time high at 13550/600 with a negativecandle risking a double top sell signal.
Daily Analysis
Emini Dow Jones shorts at strong resistance at 30690/730 target 30540/520 beforefirst support at 30440/400. A break lower targets 30330/300 with strong support at30000/29950.
Key resistance again today at 30690/730. Bulls need a break above 30770 for today’sbuy signal targeting 30830/850, perhaps as far as 31000/31100 before a retest of theall time high at 31188. Obviously a break higher (& weekly close above here onFriday) is an important buy signal.
Nasdaq failure to beat resistance at the all time high at 13600 risks a double top sellsignal (as we warned yesterday). This sends prices back to 13450/400 (we bottomedhere yesterday), perhaps as far as support at 13200/150 today. A low for the day ispossible here (as bulls are unlikely to surrender after a small double top) but furtherlosses meet strong support at 13000/12950. Longs need stops below 12900.
Key resistance at the all time high at 13550/600. A break higher is a buy signaltargeting 13640/650, 13680/690 & above 13710 we look for 13750/770.
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