Emini Dow Jones – Nasdaq

Emini Dow Jones December edging slowly lower from 30000 in overbought conditions towards strong support at 29050/29000.

Nasdaq December volatility is decreasing & we are establishing a sideways range exactly as predicted.

Daily Analysis

Emini Dow Jones holding minor resistance at 29400/430 targets 29200 before strong support at 29050/29000. Try longs with stops below 28900. A break lower; targets 28650/600 then a buying opportunity at 28450/400, with stops below 28300.

Minor resistance at 29570/610. Above 29630 allows a recovery to 29800/820. Obviously bulls need a sustained break above strong resistance at 30000. Above 30100 look for 30220/250 & 30400/450.

Nasdaq bounced from just below 11880/840 to target minor resistance at 11925/960 then strong resistance at 12050/090. Try shorts with stops above 12120. A break higher is a short term buy signal targeting 12250/270 before a retest of the double top high at 12410/465. Shorts at 12050/090 target 11990/960 then 11900/860. Cover any remaining shorts at the lower end of the short term range at 11840/800. There is a buying opportunity at 11700/600 with stops below 11550. A break below lower is a sell signal targeting 11500/450 & 11350/300.

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Chart

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The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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