Emini SP500: bulls now need a break above 3200
|Emini SP 500 and Nasdaq December Futures
Emini S&P beat the all time high of 3158 for the next buy signal targeting 3166/68 & 3175/77. All targets hit.
Nasdaq beat the all time high of 8454/58 to hit the next target of 8485/90.
Daily Analysis
Emini S&P shot higher to 3183 as I write. This hits 2 year trend line resistance perfectly in the 3185/95 area. Therefore bulls now need a break above 3200 for another buy signal.
Minor support at 3168/66 then better support at 3158/56 could hold the downside. Longs need stops below 3150. Next target & strong support at 3143/40. Nasdaq higher to the next target of 8485/90. A break above 5810 targets 8545/55 & if we continue higher look for 8600/10.
Holding below 8490 risks a slide to support at the previous all time high of 8459/55. Longs need stops below 8445.
Trends
Weekly outlook is positive
Daily outlook is positive
Short Term outlook is positive
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