-
Emini S&P March futures recover as expected in the longer term bull trend.
-
Emini Nasdaq longs at my buy level of 18000/17900 worked perfectly hitting all targets of 18100, 18160 & 18230, with a high for the day almost exactly here.
-
Emini Dow Jones March futures made a low for the day exactly at support at 38550/500 before a bounce to my upper target of 39000 for an easy 450-500 tick profit.
Emini S&P: bulls remain in control, with buying the dips still the winning strategy, despite the late sell off on Friday.
-
Beat 5155 for yesterday's buy signal targeting 5175 before a retest of 5190/95, which could be seen today.
-
A break above 5195 this week can target 5210, perhaps as far as 5224/26.
-
Minor support at 5145/35 but longs need stops below 5125.
-
Support at 5090/80.
Nasdaq March futures made a low for the day exactly at good support at 18000/17900. Targets for the bounce are 18100, 18160 & perhaps as far as 18230.
-
Likely to continue higher in the bull trend. Today's targets are 18260 & 18350/370.
-
Bulls need a break above the all time high of 18436 for the next buy signal.
-
We should have good support again at 18000/17900, stop below 17800.
-
On a break below 17800 however this could turn the outlook more negative for me & we would of course expect to see 17900/18000 then act as resistance.
-
If you reverse in to a short on a break lower look for targets of 17600 & 17400.
Emini Dow Jones March made a high for the day exactly at strong resistance at 38950/39000, again on Friday.
-
We made a low for the day on Monday exactly at support at 38550/500. Longs here worked perfectly on the bounce to 39000 for profit taking. If we continue higher look for 39150 before a retest of the all time high at 39290-39343.
-
We have been in a sideways consolidation for a month & a half.
-
Support again at 38550/500 but longs need stops below 38400. Targets for the bounce are 38900 & 39000 for profit taking.
-
If we continue higher look for 39150.
-
A break below 38200 however targets 38200/100.
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
GBP/USD stays firm above 1.2750 after a landslide Labour victory
GBP/USD keeps its range above 1.2750 in early European session on Friday. The Pound Sterling stays unperturbed by the landslide Labour Party victory in the UK general election while the US Dollar awaits the Nonfarm Payrolls data for fresh directives.
USD/JPY falls hard toward 160.50, US NFP data awaited
USD/JPY is falling hard toward 160.50 in Asian trading on Friday, having reversed from near 161.40. The pair drops on renewed US Dollar weakness and Japanese verbal intervention, which rescues the Yen. The focus shifts to US jobs report.
Gold price steadily climbs back closer to two-week high, focus remains glued to US NFP
Gold price extends its consolidative price move during the Asian session on Friday and remains well within the striking distance of the highest level since June 21 touched earlier this week. The recent softer US macro data reaffirmed market bets that the Federal Reserve will begin cutting rates in September.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin falls below $56,000 level
Bitcoin breached the weekly support level of $58,375 on Thursday; as of Friday, it is trading 2.8% lower at $55,314. Ethereum and Ripple have dropped below crucial support thresholds, suggesting a potential downtrend for these assets in the coming days.
US NFP: Nonfarm Payrolls forecast to grow by 190K in June as Fed ponders rate-cut timing
With US Federal Reserve Chairman Jerome Powell’s Sintra appearance out of the way, all eyes now remain on top-tier Nonfarm Payrolls data for June, due on Friday at 12:30 GMT.