Emini S&P 500 And NASDAQ Daily Forecast For February 15, 2019
Jason Sen | Feb 15, 2019 05:44AM ET
S&P 500 Futures holding below 2740 tests minor support at 2735 then better support at 2725. A break below 2722 meets the best support at 2712/10. If we unexpectedly continue lower look for a buying opportunity at 2697/95, with stops below 2790.
Holding above 2745 targets 2755, 2765 & 2772/74. On further gains look for 2786/90, perhaps as far as 2805/10.
NASDAQ Composite failed at key resistance at the 200 day moving average at 7055/60 & trading around 7010/05 as I write this morning. A low for the day very possible at 6970/60 but longs need stops below 6945. Further losses target minor support at 6900/6895 then a buying opportunity at 6870/65, with stops below 6855.
200 day moving average has risen to 7065/70 so bulls need a break above 7080 (& close above for confirmation) for a strong buy signal.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.