New all time high for US stock markets despite higher inflation
|-
Emini S&P SEPTEMBER new all time high at 6506. Last session high & low were: 6453 - 6496. (To compare the spread to the contract you trade).
-
Emini Nasdaq September new all time high at 24068. Last session high & low were: 23793- 24007.
-
Emini Dow Jones jumps to 45340. Last session high & low for the last session were: 44770 - 45142.
Emini S&P September futures
-
Emini S&P can target 6488/90 (hit) & 6516/20.
-
A break above 6525 can target 6550/6555.
-
First support at 6465/6460 & longs need stops below 6455 (we traded down to 6453.50 but if you held on the worked perfectly).
-
Very strong support at 6445/6435 & longs need stops below 6425.
Nasdaq September futures
-
Emini Nasdaq break above 23800/23845 targets 23960/990 (hit) then 24150/200 (almost there!).
-
Above 24240 look for 24400.
-
We made a low for the day 3 ticks above an excellent buying opportunity at 23790/740 & longs need stops below 23650.
-
Just be aware that a weekly close below 23500 starts next week with a more negative bias & risks a slide to 23300/260.
Emini Dow Jones September futures
-
Emini Dow Jones we wrote: move above 44750 this week triggers a retest of 44900/950 as predicted & even the all time high at 44230/45312 is possible.
-
Targets hit!
-
However bulls need a break above the longer term trend line at 45400/45450 for a new buy signal next week.
-
Failure to beat 45400/45450 risks a slide to 45070 & 44800/750.
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.