Emini SP 500 – Nasdaq

Emini S&P March beat strong resistance at 3780/90 with shorts stopped above 3800for a buy signal targeting 3818/23 & 3840/43 today.

Nasdaq March higher again through 13400 opening the door to a retest of the alltime high at 13550/600. We are there as I write.

Daily  Analysis

Emini S&P break above 3800 was our buy signal targeting 3818/23 & 3840/43. Thistarget has been hit as I write. Further gains certainly not out of the question for aretest of the all time high at 3857/62. Obviously a break higher is another buy signalinitially targeting 3871/74 & 3880, perhaps as far as 3895/99.

First support at 3800/3795 but longs need stops below 3785. A break lower meetssupport at 3765/60.

Nasdaq retests the all time high at 13550/600. A break higher is a buy signaltargeting 13640/650, 13680/690 & above 13710 we look for 13750/770.

Failure to beat resistance at the all time high at 13600 risks a double top sell signal.This sends prices back to 13450/400, perhaps as far as support at 13200/150.Unlikely at this stage but further losses meet strong support at 1300/12950. Longsneed stops below 12900.

fxsoriginal

Chart

SP500

Nasdaq

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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