S&P 500, NASDAQ, Dow Jones Futures Forecast
Jason Sen | Aug 11, 2021 04:08AM ET
E-mini S&P September makes a new all time high at 4438.
NASDAQ September makes a new all time high at 15172 then bottomed exactly at first support at 15030/010 so far this week.
E-mini Dow Jones September edges a little higher to a new all time high at 35176.
h2 Today’s Analysis/h2An E-mini S&P break above the new all time high at 4438 is a buy signal initially targeting 4455/60, perhaps as far as 4475/79. Downside is expected to be limited in the bull trend despite severely overbought conditions. There is no sell signal yet. First support at 4420/10. Second support at 4385/80. Longs need stops below 4375.
NASDAQ has strong support at 14970/930. Longs need stops below 14890. A break lower can target 14790/770. 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.
E-mini Dow Jones September topped exactly at the next target of 35160/190. If we continue higher in the bull trend, look for resistance at 35400/450. First support at 34970/930. Strong support at 3480/800. Longs need stops below 34750. A buying opportunity at 34670/620, stop below 34570.
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