Daily Forecast - 10 September 2014
S&P December contract
Emini S&P has failed to beat the big psychological 2000 area but September managed to hold good support at 1983/82 which is key for today. Immediate resistance at 1993/94 then 1998/99. Any shorts need stops above 2003 for 2006/07 then 2010/11 all time highs. Only below 1983/82 is more negative & targets 1974/73 then 1969 before a buying opportunity at 1965.
December support at 1975/74 is key. Immediate resistance at 1981/82 but above here targets 1985/86. We should struggle here but if we continue higher look for a selling opportunity at 1990/92, with stops above 1995.
Longs from 1975/74 need stops below 1970 to target 1966/65. If we continue lower look for a buying opportunity at 1959/57, with stops below 1953.
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