Emini Dow Jones, Nasdaq Daily Forecast: July 7, 2020
Jason Sen | Jul 07, 2020 06:04AM ET
Emini Dow Jones September Futures staged a good recovery from the open, beating first resistance at 26030/080 to hit the next target of 26250/290. We topped exactly here.
Nadaq September Futures continue higher through 10430/450 targeting 10490/505 and minor resistance at 10610/630. We over ran to 10664 before a correction to 10586 as I write.
h3 Today’s Analysis/h3Emini Dow Jones topped exactly at the next target of 26250/290 and we are likely to trade sideways now. Holding below 26120/140 today tests first support at 26060/040. Below 26000 look for 25920/900, perhaps as far as 28810/790.
First resistance at 26250/290 of course. Try shorts with stops above 26350. A break higher targets 26480/500, 26600/630, perhaps as far as 36750/780.
Nasdaq held 10430/450 but above here targets 10490/505. On further gains look for minor resistance at 10610/630.
First support at 10320/300 and longs need stops below 10250. A break lower targets 10180/160.
- Weekly outlook is positive
- Daily outlook is positive
- Short Term outlook is neutral
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