-
Emini S&P December new all time high at 6053.
The low & high for the last session were 6013 - 6053 -
Emini Nasdaq December makes a new all time high at 21340.
Last session high & low for the last session were: 21098- 21340. -
Emini Dow Jones December hit my 44600/700 target & set a new all time high exactly here at 44625.
Last session high & low for the last session were: 44142 - 44625.
Emini S&P December futures
Emini S&P shot higher to hit the next targets of 6000/6005 & 6026/29, on the way to 6050/54.
A new all time high & a high for the day exactly at this next target.
Above 6060 look for 6090/6095 then 6135/40.
I am never going to suggest a counter trend trade & therefore a short in the Emini S&P is high risk - but we are overbought after huge gains from the Trump win.
We are hitting trend line resistance at my exact target of 6050/54, where we have a new all time high at 6053.There is a good chance we turn lower towards 5985/75.
So if you are happy with the counter trend risk, try a short at 6050/54, stop above 6060 & target 6020., perhaps as far as 5990
Support at 5975/65 & longs need stops below 5955.
First support at 6010/6000 & longs need stops below 5990.
Second support at 5970/60 & longs need stops below 5950.
Nasdaq December futures
The break above 21050 hit my next target of 21250/280 and reached 21340 yesterday.
Further gains are expected to target 21540/550 & 21700/750.
Eventually we could reach 21850/890
However, just be aware that we are becoming overbought & yesterday's Doji could suggest we will not make further gains at this stage.
There is definitely no sell signal but we could consolidate sideways to ease those overbought conditions.
On the downside I expect support at 20080/020.
Longs need stops below 20970.
Emini Dow Jones December futures
Next targets are 44600/700 (hit with a new all time high here) & 44850/900
First support at 44300/44200 but below here can target support at 44000/43900.
Longs need stops below 43800.
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
AUD/USD struggles near multi-month low; looks to US CPI for fresh impetus
AUD/USD languishes near a multi-month low during the Asian session on Wednesday and seems vulnerable amid a bullish USD. Expectations that inflationary import tariffs from US President-elect Donald Trump will push up prices and limit the scope for the Fed to cut rates remain supportive of elevated US bond yields.
USD/JPY sits near its highest level since July, close to 155.00 as traders await US CPI
USD/JPY stands firm near its highest level since July 30 amid speculations that a fragile minority government in Japan will make it difficult for the BoJ to tighten its monetary policy further. Moreover, fears that US President-elect Donald Trump might again hit Japan with protectionist trade measures continue to undermine the JPY.
Gold price oscillates around $2,600, just above a nearly two-month low ahead of US inflation
Gold price consolidates its recent heavy losses to the lowest level since September 20 as bears opt to pause for a breather ahead of the crucial US CPI report, which will influence Fed rate-cut expectations and provide a fresh impetus.
Ripple could rally 50% following renewed investor interest
Ripple's XRP rallied nearly 20% on Tuesday, defying the correction seen in Bitcoin and Ethereum as investors seem to be flocking toward the remittance-based token. XRP could rally nearly 50% if it sustains a firm close above the neckline resistance of an inverted head and shoulders pattern.
Five fundamentals: Fallout from the US election, inflation, and a timely speech from Powell stand out Premium
What a week – the US election lived up to their hype, at least when it comes to market volatility. There is no time to rest, with politics, geopolitics, and economic data promising more volatility ahead.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.