Emini Dow Jones holding below first resistance at 24240/230
|S&P December contract
Emini S&P holding support at 2625/23 & hit the first target of 2636/38 & probably the strongest resistance today. However eventually further gains are possible to more minor resistance at 2648/50. Exit longs & try shorts on the approach to the all time high at 2665.25. IT IS ENTIRELY POSSIBLE THAT THIS WILL MARK A HIGH FOR THE NEAR 10 YEAR BULL MARKET AS THIS IS 6.5 YEAR TREND LINE RESISTANCE. I AM WAITING FOR PATTERN CONFIRMATION.
Be aware that market tops are often marked by extended periods of extreme volatility - I am NOT saying this has started but let's see what develops.
Failure to beat 2636/38 targets good support at 2620/18. Watch for a low for the day (we are still in a strong bull trend). Stop below 2615 & look for the next target & a truly excellent short term buying opportunity at 2607/05.
Emini Dow Jones December contract
Emini Dow Jones holding below first resistance at 24240/230 (we topped exactly here on the bounce) re-targets 24135/125 before yesterday's low at 24083 & hopefully as far as support at 24045/035 for a buying opportunity. Stop below 23990. Further losses target 23890 but look for an excellent buying opportunity at 23740/720.
First resistance at 24230/240 but above here targets 24325/335 then 24385/395 before the all time high at 24536. A break above 24550/56 targets 24760/780 & 24970/990.
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