-
Emini S&P March hit my 3810/00 target with a low for the day exactly here.
-
Nasdaq March lower as predicted to my next target of 11100/11000 with a low for the day exactly here.
-
Emini Dow Jones March collapsed as expected after the sell signal, hitting my target of 32850/750, with a low for the day just a little below at 32686.
-
Remember when support is broken it usually acts as resistance & vice-versa.
Daily analysis
Emini S&P March collapsed as predicted to my 3810/00 target with a low for the day exactly here.
Again, gains are likely to be limited with strong resistance at 3875/95. Shorts need stops above 3905. A break higher however can target strong resistance at 3955/75. Shorts need stops above 3985.
A break below 3795 can target 3780 & 3740/35.
Nasdaq March made a low for the day exactly at my next target of 11100/11000. Gains are likely to be limited with strong resistance at 11300/350. Strong resistance at 11530/590. Shorts need stops above 11700.
Minor support at 11100/11000 but a break lower eventually can target 10850/750.
Emini Dow Jones collapsed again as predicted to my target of 32850/750. I was wrong about longs being risky! We have bounced to strong resistance at 33250/33300. Shorts need stops above 33350. Strong resistance at 33550/600. Shorts need stops above 700.
Shorts at 33250/33300 can target 33050 & 33950/900. Further losses retest 32700/680. A break lower targets 32500/450 then 32100/32000.
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.
Recommended content
Editors’ Picks
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 inflation forecast, disappointing the Japanese Yen buyers.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.