Emini Dow Jones – Nasdaq

Emini Dow Jones December retests & holds last week's high at 30000 in overbought conditions which risks a small double top sell signal.

Nasdaq December volatility is decreasing & we are establishing a sideways range. We held minor resistance at 12050/090 this week to hit the downside target of 11880/840.

Daily Analysis

Emini Dow Jones meets 200 hour moving average support at 29350/320.A break below 29300 risks a slide to strong support at 29050/29000. Try longs with stops below 28900.

Minor resistance at 29560/590. Above 29600 allows a recovery to 29800/820. Obviously bulls need a sustained break above 30000. Above 30100 look for 30220/250 & 30400/450.

Nasdaq holds the 11880/840 target but if we continue lower today look for a buying opportunity at 11700/650 with stops below 11600. A break below lower is a sell signal targeting 11500/450 & 11350/300.

Minor resistance at 11925/960 then strong resistance at 12050/090.

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Chart

Emini Dow Jones

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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