E-Mini S&P 500, NASDAQ, E-Mini Dow Jones Forecast
Jason Sen | Aug 16, 2021 06:22AM ET
E-mini S&P September slowly higher all last week to our target of 4455/60. Although we topped as momentum slows, outlook remains positive despite severely overbought conditions, with no sell signal yet.
NASDAQ September longs at strong support at 14970/930 offered up to 170 ticks profit so far.
E-mini Dow Jones September through the next target and resistance at 35400/450, but only as far as 35519 in overbought conditions. However, outlook remains positive with no sell signal.
h2 Today’s Analysis/h2E-mini S&P hit our next target of 4455/60 with a new all time high at 4463, as we look for 4475/79, 400 and perhaps as far as 4540/45 this week. Downside is expected to be limited in the bull trend despite severely overbought conditions. There is no sell signal yet. First support at 4453/43. Second support at 4425/20. Longs need stops below 4410.
NASDAQ longs at strong support at 14970/930 target 15110/120 before a retest of the all time high at 15172. A break higher targets strong resistance at 15320/350. A break above 15400 targets 15700/750. Minor support at 15080/060, strong support at 14970/930. Longs need stops below 14890. A break lower can target 14790/770.
E-mini Dow Jones September higher as expected hitting 35519. Shorts are too risky with no sell signal in such a strong bull trend. Further gains target 35650/680 this week. Minor support at 35310/290, better support at 35090/35050. Longs need stops below 34990.
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