S&P 500, NASDAQ And Dow Jones Daily Forecast
Jason Sen | May 28, 2021 06:08AM ET
E-mini S&P 500 JUNE over ran 4190/4200 by 10 points before a recovery. Key resistance at all time high at 4233/38 of course.
NASDAQ JUNE barely moving this week as we hold first support at 13650/620.
E-mini Dow Jones bottomed exactly at best support at 34200/34100 with longs seeing 400 ticks profit on the bounce to targets of 34430/480 & 34600/630.
h2 Today’s Analysis/h2E-mini S&P holding above 4190/4200 targets 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 beats 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 longs at best support at 34200/34100 seeing good profit on the bounce to 34430/480 and 34600/630 before retest of the all time high at 34900/35000.
Best support again 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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