S&P 500, NASDAQ And Dow Jones Forecast
Jason Sen | Jul 08, 2021 08:21AM ET
E-mini S&P September struggles at the only resistance of any importance for this week despite a new all time high at 4353.
NASDAQ September higher as predicted to the next target of 14850 with a new all time high at 14883.
E-mini Dow Jones September longs at best support at 34320/280 worked perfectly yet again yesterday on the bounce to our targets of 34430/460 and 34550/570.
h2 Today’s Analysis/h2E-mini S&P 4340/45 is the only resistance of any importance for this week. A break above 4350 therefore should be a buy signal targeting 4365/70 and eventually resistance at 4400/05.
No sell signal despite severely oversold conditions so we must assume the downside will be limited in the strong bull trend. First support at 4336/33. Below 4328 risks a slide to 4311/07. Longs need stops below 4300.
NASDAQ higher to 14850 but we expect strong resistance at 14940/990.
The downside should be limited in the strong bull trend. First support at 14725/705. Second support at 14600/580.
E-mini Dow Jones September longs at best support at 34320/280 worked perfectly on the bounce to 34430/460 and 34550/570. Further gains in the bull trend retest of September contract high at 34755. A break higher can target the all time high at 35000.
Downside is likely to be limited with best support at 34320/260 but longs need stops below 34200. A break lower can target support at 34100/34000.
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