Of course, we are severely overbought & this trend line is strong. Shorts in such a bull trend are never a smart idea but I do believe there is a good chance of some profit-taking to 4149/46 & 4125/20. Below 4110 risks a slide to strong support at 4090/85.

Nasdaq meets strong resistance at the big 14000 number this week & we topped a fraction above at 14029/034 this week. Obviously a sustained break above 14050 opens the door to further significant gains, initially targeting 14170/200.

As I write this morning we are testing strong support at 13900/850 & again at13780/740. Longs need stops below 13700.

Emini Dow Jones's downside is expected to be limited with minor support at 33700/650 then strong support at 33400/350. Best support at 33100/33000. Longs need stops below 32900.

A break above 34000 targets 34200/240 than 34600/650.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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