Good recovery for US stock and outlook remains positive [Video]
|Emini S&P futures
Emini S&P beat resistance at 6690/6700 which was key to direction.
Yesterday we made a low for the day exactly at my support at 6685/75.
Longs worked perfectly & the break above 6715 was another buy signal - we hit my target of 6770/6780.
A break above 6800 is a new buy signal targeting 6830 & 6850.
Strong support at 6750/6740 & longs need stops below 6730.
Nasdaq futures
Emini Nasdaq we have capitalised on the recovery from the buying opportunity at 24200/24000.
We are testing resistance at 25130/25230 today.
Shorts need stops above 25330.
A break higher is a good buy signal initially targeting 25450/500 then 25800/25850.
Failure to beat resistance at 25130/25230 targets 24900/800.
A low for the morning session is possible here.
However if we continue lower look for a buying opportunity at 24550/24450 & longs need stops below 24300.
Emini Dow Jones futures
Emini Dow Jones has recovered well from the buying opportunity at 100 day moving average & 38.2% Fibonacci support at 45900/45700.
A low for the day yesterday at support at 46350/450 & shot higher to my next target of 46800/850.
The break above 46950 is the next buy signal targeting 47200/300, hit over night as I write.
Minor resistance at 47400/47500 - I think shorts are risky but a break above 47550 is a buy signal targeting 47900/47950.
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