Market Analysis for December Futures
In December, the market found support just 3 points below the buy zone at 5745/35 before surging to both targets of 5755 and 5765. The previous session ranged from a low of 5733 to a high of 5822, showing significant volatility and movement within the market.
Despite dipping lower, December found strong support at 19900/800, setting the low for the day. The range for the last session was from 19818 to 20331, indicating a wide range of movement and potential opportunities for traders.
December has been trading sideways for several days, with the most recent session ranging from 42251 to 42656. This stability in movement could signal a potential breakout or further consolidation in the near future.
Emini S&P September Futures
- Long positions at the key support of 5745/35 worked perfectly, with the market rallying to 5755 and 5765, extending gains to 5783.
- If momentum continues, a retest of the all-time high at 5820/30 could be possible.
- For the week ahead, support remains at 5745/35, with stops below 5730. A break below this level could target 5695/90, with further support at 5680/70. Longs at this zone should consider stops below 5660.
Nasdaq September Futures
- We broke support at 20250/150 to hit the next downside target and found strong support at 19900/800 with a low for the day exactly at this level.
- If the market continues higher, look for levels around 20150/200, perhaps as far as 20250/290.
- Strong support remains at 19900/800, with longs needing stops below 19700 to manage risk effectively.
Emini Dow Jones September Futures
- Gains in Dow Jones are likely to be limited in severely overbought conditions, but there is no sell signal, indicating a potential for further upside.
- Support at 42350/250 proved to be an excellent buying opportunity, with targets of 42500 and 42650 being hit immediately.
- A break lower this week could lead to a slide to 42000/41900, with longs needing stops below 41800 to protect against downside risk.
Analysis and Recommendations
Overall, the market analysis for December, Emini S&P, Nasdaq, and Emini Dow Jones futures highlights key support and resistance levels, potential price targets, and areas of strong support. Traders and investors can use this information to make informed decisions about their positions and manage risk effectively.
It is essential to pay attention to technical levels, such as support and resistance, to identify potential entry and exit points. Setting stop-loss orders and adhering to risk management strategies can help protect against unexpected market movements and preserve capital.
By staying informed about market trends and developments, traders can position themselves for success and take advantage of opportunities in the market. Remember to conduct thorough research, utilize technical analysis tools, and stay disciplined in your trading approach to optimize your chances of success.