Emini S&P 500 & Nasdaq Futures
|Emini SP 500 _ Nasdaq March contract
Emini S&P enters our selling opportunity at strong resistance from 2605 up to 2620. We are short with wide stops above 2635, expecting the bear trend to resume. An unexpected break higher however is a buy signal.
Key support at 2607/05 today so below here is more negative targeting support at 2596/95. Watch for a bounce from here on the 1st test. A break below 2590 is a sell signal initially targeting 2587/86 & 2583/80.
Nasdaq reached 6735 & reversed towards last week's high at 6645. Below 6640 is another negative signal targeting 6630 & minor support at 6620/15. Best chance of a low for the day is at 6595/6590.
Holding 6645/40 allows a recovery to 6665/70 perhaps as far as 6695/99. Gains are likely to be limited but above here 6705 retests 6735. A break above 6640 puts bulls back in control for 6647 & 6665/68.
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