Emini Dow Jones key resistance today at 30690/730

This post was originally published on this site

Emini Dow Jones – Nasdaq

Emini Dow Jones March paused for several hours at 30300/350 as predicted buteventually broke higher to 30450/500 & as far as 30738.

Nasdaq March higher again through 13400 opening the door to a retest of the alltime high at 13550/600. We are there as I write.

Daily Analysis

Emini Dow Jones key resistance today at 30690/730. Bulls need a break above 30770for today’s buy signal targeting 30830/850, perhaps as far as 31000/31100 before aretest of the all time high at 31188. Obviously a break higher (& weekly close abovehere on Friday) is an important buy signal.

Failure to beat strong resistance at 30690/730 risks a slide to first support at30540/520. Longs need stops below 30480. A break lower targets 30350/300.

Nasdaq retests the all time high at 13550/600. A break higher is a buy signaltargeting 13640/650, 13680/690 & above 13710 we look for 13750/770.

Failure to beat resistance at the all time high at 13600 risks a double top sell signal.This sends prices back to 13450/400, perhaps as far as support at 13200/150.Unlikely at this stage but further losses meet strong support at 1300/12950. Longsneed stops below 12900.

Chart