Emini S&P 500 – Nasdaq Daily Forecast – May 14, 2019
Emini SP 500 _ Nasdaq
Emini S&P overran the best support for this week at 2811/09 by only 10 points and bounces back as I write targeting 2822/24, perhaps as far as strong resistance at 2835/38. We should struggle here, but above 2843 allows a recovery to 2849/50 and a selling opportunity at 2860/63, with stops above 2870.
A break below 2799 is an important sell signal targeting 2790/89 and support at 2779/76. On further losses look for 2766/63, perhaps as far as 2758/56.
Nasdaq first resistance at 7370/80. Above 7390 is more positive testing minor resistance at 7425/35. A break above 7440 targets 7470/80 and strong resistance at 7505/15.
A break below 7290 targets 7275 then 7235/25. A break below 7210 targets strong support at 7170/60. Longs need stops below 7130.
Emini S&P 500 Above 2843 Allows A Selling Opportunity At 2860/63
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