S&P 500: Longs Need Stops Below 4595

December is hitting the targets so far as 4696/99 earlier than reversing from 4712 and we’re closing in on first assist at 4675/70 this morning.

December is seeing a little bit profit-taking from our 16420/440 goal, however the draw back needs to be restricted within the bull development with no promote sign but, regardless of overbought situations.

December we wrote: hit the subsequent goal of 36000/100 and if we proceed increased within the bull development search for 36250/280.

TheTarget was hit with a brand new all-time excessive at 36375.

At the moment’s Evaluation

Emini S&P meets first assist at 4675/70. Longs want stops beneath 4665 however then count on sturdy assist at 4650/45.

Attempt longs with stops beneath 4635. Unlikely however additional losses meet a superb shopping for alternative at 4615/05. Longs want stops beneath 4595.

The one resistance is at 4710/15. You would need to be courageous or loopy to promote brief on this limitless bull market! A break above 4720 targets 4735/40 than 4760.

NASDAQ December straight to the subsequent goal of 16420/440 with a brand new all-time excessive solely eight ticks above!! Finally, we will attain 16700, maybe this week. Then we search for 16850.

First assist at 16260/240 is more likely to be examined this morning, however beneath meets second assist at 16140/120. Unlikely however additional losses meet a shopping for alternative at 15970/920. Longs want stops beneath 15890.

E-mini Dow Jones December new all-time excessive at 36375 however watch resistance at 36410/440. I actually don’t advocate a brief, however we might pause right here. If we proceed increased, search for 36490/500 and 36750/800.

First assist at 36100/35950. Greatest assist at 35700/650. Longs want stops beneath 35550.