S&P, NASDAQ And Dow Jones Daily Forecast
Jason Sen | Apr 30, 2021 07:15AM ET
E-mini S&P JUNE new all time high at 4211 before prices collapsed to strong support at 4175/72. Longs here worked perfectly on the bounce back to 4290.
NASDAQ JUNE double top risk as we reverse from the all time high at 14060 as we retest first support at 13900/850.
E-mini Dow Jones topped exactly at first resistance at 33950/34000 & bottomed exactly at best support at 33660/610.
h2 Today’s Analysis/h2E-mini S&P minor support at 4185/83 then strong support at 4170/65. Longs need stops below 4160. A break lower to targets 4145/40.
Minor resistance at the new all time high of 4209/11. If we continue higher look for 4220/22 and 4231/33.
NASDAQ double top risk at the all time high at 14060 as we hold below here again yesterday. A break higher however opens the door to further significant gains, initially targeting 14140/150 and 14250/270, perhaps as far as 14400.
Failure to beat the all time high at 14060 risks a small double top reversal pattern.
We tested support at 13900/860 but over ran to 13818. First support at 13780/750 today. Longs need stops below last week’s low at 13700. Further losses meet strong support at 13640/600.
E-mini Dow Jones topped exactly at minor resistance at 33950/34000. Further gains retest the all time high at 34140/144. A break higher however targets 34220/240 and 34330/350.
Minor support at 33860/830 before the best support for today again at 33660/610. Longs need stops below 33560. A break lower targets 33450/440 and strong support at 33290/240. Longs need stops below 33190.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.