Daily Forecast - 09 January 2017
S&PMarch
Emini S&P has held 2268/69 on the dip to allow a retest of the all time high at 2278/79. Further gains are always likely in the bull trend targeting 2291/92 & 2300/02. Bl 2270 tests first support at 2266/65 which could hold the downside. However if we continue lower look for a buying opportunity at 2259/58, with stops below 2253.
Emini Dow Jones
Emini Dow Jones sold off to but bottomed exactly at the 19870/880 level by the close, after a top on Friday at 19925. Holding here allows a retest of the March contract high at 19925/933. A break higher targets the all time high at 19968. On further gains look for 20070/980. Failure to hold above 19860 tests better support at 19830/820. Watch for a low for the day but longs need stops below 19800. Further losses target only minor support at 19765/755 before last week's low at 19710/706. A break lower this week tests good support at 19630/620. Longs need stops below 19600 however to target 19560/555 & 19520.
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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