Emini S&P 500 And NASDAQ Daily Forecast For January 11, 2019
Jason Sen | Jan 11, 2019 05:43AM ET
S&P 500 Futures has bounced back towards strong resistance from 2600 up to 2620. I am now scaling in to shorts with wide stops above 2635, expecting the bear trend to resume. An unexpected break higher however is a buy signal.
Failure to beat 26000/2620 targets 2580/75, 2570 & minor support at 2560/55. On further losses look for 2550/47 & 2540/36.
NASDAQ severely overbought in the bear trend & holding 6630/40 leaves a double top sell signal targeting first support at 6575/65. Below here targets 6535 & support at 6525. Longs are increasingly risky & on further losses look for 6505, 6495 & 6470.
A break above 6645 takes us towards resistance at 6675/80. Watch for a high for the day. A break above 6695 however targets 6711/14 then 6720/23.
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