Stock Markets Analysis & Opinion

S&P 500, NASDAQ, Dow Jones Futures Forecasts

E-mini S&P September makes a new all time high at 4433.

NASDAQ September makes a new all time high at 15172, then bottoms exactly at first support at 15030/010.

E-mini Dow Jones September edges a little higher to a new all time high at 35137.

Today’s Analysis

An E-mini S&P break above the new all time high at 4433 is a buy signal initially targeting 4455/60, perhaps as far as 4475/79. Downside is expected to be limited in the bull trend despite severely overbought conditions. There is no sell signal yet. First support at 4407/02. Second support at 4385/81. Longs need stops below 4375.

NASDAQ first support is seen at 15030/010 today. Strong support at 14970/930. Longs need stops below 14890. A break lower can target 14790/770. Longs at first support at 15030/010 target 15110/120 before a retest of the all time high at 15172. A break higher targets strong resistance at 15320/350. A break above 15400 targets 15700/750.

E-mini Dow Jones September holding first support at 34900/850 targets 35160/190, perhaps as far as resistance at 35400/450. First support at 34900/850. Strong support at 34780/760. Longs need stops below 34700. A buying opportunity at 34620/600, stop below 34550.

E-mini S&P 500 Chart

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