Dow Jones, S&P And NASDAQ Forecast
Jason Sen | May 27, 2021 07:17AM ET
E-mini S&P JUNE was holding at 4190/4200 yesterday in an erratic consolidation phase. Key resistance at all time high at 4233/38 of course.
The NASDAQ JUNE was holding first support at 13380/360 to target 13550/560, then strong resistance at 13630/670. We topped exactly here as I write. Shorts need stops above 13710.
E-mini Dow Jones bottomed exactly at best support at 34200/34100.
h2 Today’s Analysis/h2E-mini S&P is holding above 4190/4200 targeting the all time high at 4233/38. A break higher targets 4260/65. Below 4180 tests strong support at 4160/50. Stop below 4140. A break lower is a sell signal targeting 4120/10, perhaps as far as 4095/85.
NASDAQ is beating resistance at 13630/670 for a buy signal targeting 13800/820. Further gains can retest the all time high at 14035/065. First support at 13650/620. Longs need stops below 13600. A break lower to targets 13550/530, perhaps as far as first support at 13420/13380. Longs need stops below 13350.
E-mini Dow Jones' best support is at 34200/34100 re-targeting 34430/480. On further gains, look for 34600/630 before retest of the all time high at 34900/35000. Best support at 34200/34100 but longs need stops below 34000. A break lower can target 33900/880 and 33650/600. Further losses can retest last week’s low at 33450/400.
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