S&P 500: Longs need stops below 4530
|Emini S&P 500, Nasdaq, Emini Dow Jones
Emini S&P December beat the all-important all-time high at 4545/50 for a buy signal triggering further slow gains this week.
Nasdaq December bounced from just 3 ticks above first support at 15300/280 & made a high for the day exactly at the next target of 15470/490 at the end of the week. This level was beaten yesterday as we target the very important all-time high at 15650/700.
Emini Dow Jones December made a clear break above the all-time high at 35540/550 for a buy signal.
Daily analysis
Emini S&P beats the all-important all-time high at 4545/50 to kill the double top sell signal & trigger a buy signal. We are looking for 4580/85 today. Above 4590 targets 4625/35 but a high for the week is likely here.
First support at 4550/40. Longs need stops below 4530.
Nasdaq December now targets the very important all-time high at 15650/700. A rejection here forms a potential double top sell signal.
First support at 15490/460. Longs need stops below 15400.
Emini Dow Jones December breaking higher for a buy signal targeting 35800/850 & 36000/100, eventually as far as 36250/280.
First support at 35550/500. Longs need stops below 35450.
Chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.