Emini Dow Jones Nasdaq Forecast

Intermediate

Emini Dow Jones minor resistance at 25370/390 then strong resistance at 25550/580. Shorts need stops above 25600 for the next target of 25740/750 & strong resistance at 25880/920.

Very minor support at 25285/255 before the low at 25050/030. Best support at 25000/24900 so a break below 24800 is a sell signal targeting important support at 25630/600.

Monthly Dow Jones Chart 2019-08-06

Nasdaq crashed another 480 points yesterday. First resistance at 7340/50 but above here 7370 targets strong resistance at 7410/20. Shorts need stops above 7440. A break higher targets 7475 then a selling opportunity at 7525/35, with stops above 7550.

Failure to beat first resistance at 7340/50 targets minor support at 7310/05 & 7275 before the low at 7225. From here down to 7200 is the most important support of the day. Longs need stops below 7170. A break lower is an important sell signal & we could quickly drop another 100 points or more.

Jason Sen

Editor

Jason Sen began his trading career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successful...continued

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