December futures hit the 8 month pattern line at 4090/95, the downward sloping 11 month pattern line and upward sloping 2 month pattern line at 4105/10, with a excessive for the day week right here.
December decrease on the US quantity to my goal of 11750/700 with a low for the day precisely right here.
turns decrease however no necessary promote sign but regardless of severely overbought circumstances.
**Friday’s dragonfly doji in all 3 markets warns of a possible value decline. A transfer decrease on Monday’s candle supplies affirmation.**
As we speak’s Evaluation
E-mini S&P December has rejected sturdy resistance at 4090/95 to 4105/10 with a weekly shut beneath right here. Clearly a break above this week will persuade me to show bullish. We then goal 4170/90.
Shorts at 4090/4110 can retarget 4060/50 and first help at 4020/10. A low for the day precisely right here on Friday with longs provided as much as 65 factors revenue. A break beneath 4000 nevertheless is a promote sign focusing on 3970/50 & sturdy help at 3930/10.
Nasdaq December holding beneath 12000 re-targets 11750/700. Additional losses can goal 11550/500 and even 11250.
Bulls really want a clear break above the November excessive at 12118 for a purchase sign focusing on 12250 and 12400.
E-mini Dow Jones ought to meet help at 33900/800 and actually we had a low for the day simply 35 ticks above right here on Friday. A break beneath 33600 immediately indicators additional losses in direction of help at 33300/200.
Above 34700 can goal 35000/35100.
