-
Emini S&P March futures beat the all time high at 5066 for a buy signal & initially hit the next target of 5090/94 then reached 5120/25 on Friday with a high for the day exactly here.
-
Nasdaq March futures had a small push higher but reversed from a new all time high at 18144, to close lower on the day.
-
Emini Dow Jones March futures beat the all time high at 38980-39012 as expected after the short term consolidation, and hit my next target of 39160/220. HOWEVER we only got half way to the next target of 39450/500 on Friday.
Emini S&P: higher as expected in the longer term bull trend as 'buy-the-dip' continues to be the winning strategy. We beat the all time high at 5066 for a new buy signal & initially hit the next target of 5090/94 then 5120/25 with a high for the day exactly here on Friday. Further gains are expected this week to 5140/45.
Any downside correction should find support at 5065/60. Longs need stops below 5050.
Nasdaq March futures could dip to a good support level at 17800/750. Longs need stops below 17700. A break lower meets what should be the best support for this week at 17600/500. Longs need stops below 17400.
We have resistance at the all time high at 18120/145. A sustained break higher is buy signal for this week, initially targeting 18200/220 & 18260/270, probably as far as 18320/340.
Emini Dow Jones March futures beat this week's high at 38900/909 & the all time high at 38980-39012 as expected, after the short term consolidation and hit my next target of 39160/220.
The break above 39270 on Friday only reached 39343. As long as we can hold above support at 39000/38900, we can eventually target 39450/500, probably as far as 36650/700.
However longs at 39000/38900 longs need stops below 38750.
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
EUR/USD drops below 1.0500 after US PMI data
EUR/USD stays under bearish pressure and trades below 1.0500 on Monday. The upbeat ISM Manufacturing PMI data for November provides an additional boost to the US Dollar, forcing the pair to extend its slide in the American session.
GBP/USD slumps below 1.2650 on broad USD strength
Following a consolidation phase in the early European session, GBP/USD turns south and trades below 1.2650 on Monday. The pickup in the safe-haven demand for the US Dollar, in addition to the better-than-forecast US Manufacturing PMI data, weighs on the pair.
Gold stays below $2,650 as US yields push higher
Gold starts the new week on the back foot and trades below $2,650. The renewed US Dollar strength and the recovery seen in the US Treasury bond yields don't allow the pair to stage a rebound despite the risk-averse market atmosphere.
The week ahead: Payrolls take centre stage, as French government poised to collapse
At the start of this week, the focus is likely to be on France. On Sunday, Marine Le Pen said that her party’s talks with the government led by Michel Barnier, had broken down, which paves the way for a no-confidence vote in the technocratic government that has no majority in Parliament.
Trump warns BRICS over Dollar rival plans
Donald Trump, the incoming U.S. President, has issued a strong warning to BRICS nations over their plans to challenge the dominance of the U.S. dollar in global trade.
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.