Emini Dow Jones holding below 24000 in overbought conditions
|Emini Dow Jones _ Nasdaq March contract
Emini Dow Jones holding below 24000 in overbought conditions (& a bear trend) targets: 23850, & 23780/760 (we bottomed exactly here on Friday) before support again at 23630/610. Longs are increasingly risky. Below 23590 targets 23560, 23480/460 & strong support at 23440/420.
Shorts need stops above 24000 for 24080/099, perhaps as far as strong resistance at 24200/230.
Nasdaq held 6630/40 for a small a double top sell signal targeting first support at 6575/65. We bottomed exactly here but further losses are likely for 6535 & support at 6525. Longs are increasingly risky & if we continue lower look for 6505, 6495 & 6470.
A break above 6645 takes us towards resistance at 6675/80. Watch for a high for the day. A break above 6695 however targets 6711/14 then 6720/23.
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