Emini Dow Jones STILL sideways after 6 days
|Emini Dow Jones September contract
Emini Dow Jones STILL sideways after 6 days. We shot higher from 25764 all the way back to minor resistance at 260010/30. This just reinforces that sideways trend I predicted last week. On further gains look for 26080 & above 26100 allows a retest of the August high at 26180/185. Above 26200 sees us head towards more important 4 month trend line resistance at 26280/300 this week.
I am sticking with first support at 25890/880 but below here targets 25830/815. Below retests the low yesterday at 25770/765. Below here risks a slide to strong support at 25720/710. Try longs with stops below 25670.
S&P September contract
Emini S&P strong resistance at 2890/92 held both days this week so far. Further gains test minor resistance at 2898/2900. Above here meets more important 4 month trend line resistance at 2910/12 before the all time high at 2916/17. A break higher is a buy signal targeting 2921 & 2925/26, perhaps as far as 2933/35.
Failure to beat strong resistance at 2890/92 once again targets 2885 then 2879/77 before support at 2873/72. This could hold the downside but below here retest 2867/65. A break lower this week targets 2861/59. Buyers are likely to try their luck here but longs need stops below 2855. On further losses look for 2852/51 then strong support at 2848/46.
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