S&P December contract
Emini S&P held mega important support at 2615/05. Crash avoided!!! First resistance at 2694/96 but above 2700 meets very strong resistance at 2715/20. Try shorts with stops above 2730. A break higher targets 2735/40 & above 2745 look for strong resistance at 2760/63. Failure to beat 2694/96 targets 2684/83 then support at 2668/65. Below 2660 risks a slide to 2650 & 2638/35 before mega important support at 2615/05. Try longs with stops below 2590. A break lower is a huge longer term sell signal. Crash?
Nasdaq holding our shorts at 6830/40 with stops above 6855. A break higher targets 6890/95. Above 6900 look for 6915 & 6923/25 then resistance at 6947/50. Holding below 6830/40 targets 6805/00 & 67 85/80 before support at 6756/60. If we continue lower look for 6740/35 & 6705/00. Further losses re-target 6675/70 before the low at 6645/40. A break below 6640 targets 6610/05. Below 6595 look for 6580/70, 6540/30 & perhaps as far as 6505/6495.
Emini Dow Jones December contract
Emini Dow Jones buyers important support at 24330/24230 offered up to 700 very fast profits on the bounce to resistance at 24950/970. A break above 25000 targets strong resistance at 25150/180; stops above 25250. A break higher targets 25330 & 25380/400. Holding strong resistance at 24950/970 targets 24860/840 & minor support at 24700/670. Below 24600 risks a slide to 24530/500 & 24420/400 before the most important support of the week from 24300 to 24230. A break below 24050 is a serious medium term sell signal.
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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