U.S. STOCK INDEXES The Dow closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow resumes the decline off June's high, the 50-day moving average crossing at 24,764.56 is the next downside target. Closes above the June 11th gap crossing at 26,938.05 would confirm that a short-term low has been posted. First resistance is the June 11th gap crossing at 26,938.05. Second resistance is June's high crossing at 27,580.21. Third resistance is the 87% retracement level of the February-March-decline crossing at 28,090.29. First support is last-Monday's low crossing at 24,843.18. Second support is the 50-day moving average crossing at 24,764.56. The September NASDAQ 100 closed sharply higher on Monday as it extends the rally off Monday's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low into uncharted territory, upside targets will be hard to project. Multiple closes below last-Monday's low crossing at 9368.25 are needed to confirm that a short-term top has been posted. First resistance is the June 10th high crossing at 10,140.00. Second resistance is unknown. First support is last-Monday's low crossing at 9368.25. Second support is the 50-day moving average crossing at 9252.56. The September S&P 500 closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off June's high, the 50-day moving average crossing at 2943.42 is the next downside target. If September extends last-week's rally, the June 8th high crossing at 3216.70 is the next upside target. First resistance is the June 8th high crossing at 3216.70. Second resistance is the 87% retracement level of the February-March-decline crossing at 3237.65. First support is the 50-day moving average crossing at 2943.42. Second support is the May 13th low crossing at 2804.20. 
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown. All trades, patterns, charts, systems, etc., discussed in this message and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation. | |
No comments:
Post a Comment
Keep a civil tongue.