U.S. STOCK INDEXES The Dow closed higher on Thursday as it extends this week's rally as a stronger-than-expected jobs report was tempered by rising numbers of new coronavirus cases. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the June 16th high crossing at 26,611.03 would renew the rally off the June 15th low. Closes below the 50-day moving average crossing at 25,100.85 would confirm that a short-term top 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. First support is the 50-day moving average crossing at 24,992.00. Second support is the June 15th low crossing at 24,843.18. The September NASDAQ 100 closed higher on Thursday as it posted a new contract high while extending this year's rally. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below Monday's low crossing at 9728.75 would signal that a short-term top has been posted. First resistance is today's high crossing at 10,422.25. Second resistance is unknown. First support is Monday's low crossing at 9728.75. Second support is the 50-day moving average crossing at 9492.61. The September S&P 500 closed higher on Thursday following a stronger-than-expected jobs report. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this week's rally, the June 8th high crossing at 3216.70 is the next upside target. Closes below the 50-day moving average crossing at 2990.31 is the next downside 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 2990.31. 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.