S&P 500: A Break Below 4100 Is A Sell Signal Initially Targeting 4065/55

March crashed to 4100. The and held their help ranges completely so I assume this is the reason E-mini S&P bounced as effectively however I didn’t see a help at 4100.

NASDAQ MARCH shorts at 14100/150 labored completely on the collapsed 14100/150 to my targets of 13850/800, 13600/580 and to inside 25 ticks of VERY IMPORTANT SUPPORT AT 13000/12950 .

I hoped you managed to purchase in to a protracted in time for the close to 1000 tick bounce. Good name eh?

E-mini Dow Jones March we wrote: We do have crucial long term help at 32400/300 so holding right here right this moment triggers a great restoration to sturdy resistance at 32900/33000.

Longs at 32400/300 labored completely with a bounce straight to my goal of 33000.

Right this moment’s Evaluation

E-mini S&P closed above key resistance at 4195/4205 to sign a false break and as I wrote, we may get fairly a brief squeeze. We definitely did that with a bounce to my first goal of 4260/70. The truth is a excessive for the day precisely right here. Nonetheless there’s a good probability that’s is simply a pause and finally we proceed greater in direction of 4300/10, maybe so far as sturdy resistance at 4360/80.

Necessary help at 4195/4185. A weekly shut beneath right here may set off one other 15% correction to the draw back. Clearly a break beneath 4100 is one other promote sign initially concentrating on 4065/55.

NASDAQ noticed a low for the day nearly precisely at crucial long term help at 13000/12900. As I wrote: Undoubtedly price attempting a protracted as this could possibly be a low for the correction at this stage. Did you purchase in time to for the bounce to my targets of 13500/600 and13800/850?? Now we have held the 23.6% Fibonacci stage of 13850/950 however I feel that is only a pause. Finally (hopefully right this moment) a break above 14000 alerts additional positive aspects to minor resistance at 14070/080 then 14350/360. Anticipate very sturdy resistance at 14400/450. A excessive for the day is anticipated – shorts want stops above 14500.

Failure to beat 13850/950 dangers a slide to to 13600/550. Additional losses dangers a retest of necessary long term help at 13000/12900. Longs want stops beneath 12800. A break decrease nevertheless may ship costs down one other 100 factors finally.

E-mini Dow Jones longs at sturdy help at 32400/300 labored completely with longs profitable enormous sums on the bounce to resistance at 32900/33000. We wrote: There are the one two ranges that matter right this moment. How right was that!!?? Minor resistance at 33200/300 however I feel that is only a pause . Finally (hopefully right this moment) a break above 33400 alerts additional positive aspects to 33600 earlier than sturdy resistance at 33900/34000. Shorts want stops above 34150.

Once more sturdy help at 32400/30. A break beneath 32000 is then an important long term promote sign and will see 750 tick losses nearly instantly.