Emini S&P we wrote: making a break above 3357/58 in the never-ending bull trend to target 3364/66, perhaps as far as 3478/80 this week.
We missed this target by less than 4 points. Profit taking hit support at 3357/55.
Nasdaq we wrote: through 9460/65 & strong resistance at 9510/15 yesterday to hit the next target of 9560/70. As I write we topped exactly here but bulls remain in control of course as we look for 9615/20.
We missed this target by only 5 points.
Emini S&P first support at 3357/55 then a buying opportunity at 3348/46, with stops below 3342. More minor support at 3338/36 but below 3332 risks a slide to 3320/18.
Bulls are looking for the next target of 3478/80. A break higher targets resistance at 3389/91.
Above here look for 3399/3400 & resistance at 3410/12.
Nasdaq just held 9515/10 on the dip in to the close. A bounce targets 9560/70 then above 9580 we can retest the new all time high at 9606/09. A break higher targets 9615/20 & above 9630 look for strong resistance at 9650/60 then resistance at 9695/9705.
Below 9500 risks a slide to a buying opportunity at 9465/55, with stops below 9440. A break lower targets 9390/80 with support at 9365/55. Longs need stops below 9320.
Weekly outlook is positive
Daily outlook is positive
Short Term outlook is positive
Emini S&P, Nasdaq Forecast For Feb 13, 2020
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