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Emini Dow Jones – Nasdaq

Emini Dow Jones March makes a new all time high at 30333, with December reaching 30390. We are overbought but shorts are too risky at this stage with no sell signal.

Nasdaq March longs at our buying opportunity at 12280/230 worked perfectly again on the bounce to targets of 12400/450, 12550, 12600, 12667/675, 12750/770 & finally our next target of 12820/830 on Friday. In fact we topped exactly here.

Daily Analysis

Emini Dow Jones MARCH downside is expected to be limited with minor support at 30170/120 & again at 30000/29900. Longs need stops below 29840. A break lower targets 29750, perhaps as far as 29640/620.

Minor resistance at 30230/260 before a retest of 30325/335 & 30390. Be ready to buy a break above 30400 for 30450 & as far as 30620/660.

Nasdaq MARCH making a new all time high at the next target of 12820/830. We topped exactly here but further gains in the bull trend target 12885/895. Just be aware that we are severely overbought at this stage so gains are likely to be limited, but we definitely have no sell signal so shorts are too risky.

Downside is expected to be limited in the bull trend. Minor support at 12750/730, better support at 12695/665. Try longs at 12610/590 with stops below 12520.