Market Analysis: Emini S&P December
After reaching a high of 5918, the Emini S&P December has experienced profit-taking due to overbought conditions. Although Monday saw strong gains, we are now likely to see a period of consolidation and sideways trading to ease these conditions. It is important to note that there is currently no sell signal present.
- The low and high for the last session were 5853 – 5892, providing a range for comparison to the contract being traded.
Market Analysis: Emini Nasdaq December
Support for the Emini Nasdaq December is expected to be found at 20250/200, with long positions advised to have stops placed below 20150. In the previous session, the high and low were recorded at 20206 – 20398.
Market Analysis: Emini Dow Jones December
The Emini Dow Jones December recently collapsed from a new all-time high at 43445, creating a bearish engulfing candle on the daily chart. However, a recovery was seen in the subsequent session. The last session’s high and low were 42937 – 43369.
Key Points to Consider:
Emini S&P December Futures
- The futures managed to bounce from support at 5850/40, reaching 5892. Bulls are aiming to retest the week’s all-time high at 5918, with potential targets at 5935/40.
- Long positions should have stops placed below 5780, with targets set at 5830, 5850, and possibly 5870.
- Despite overbought conditions, short positions are not advisable in the current strong bull trend. Watch for potential consolidation and patterns forming.
Nasdaq December Futures
- Key support is expected at 20250/200, with long positions requiring stops below 20150. A break lower could lead to a buying opportunity at 19950/850.
- Long positions should have stops placed below 19700 to mitigate risks.
Emini Dow Jones December Futures
- The futures formed a bearish engulfing candle but bounced from support at 43000/42900. Long positions should have stops placed below 42800.
- A break lower could target a buying opportunity at 42660/620, with stops below 42500.
Analysis:
Overall, the current market conditions suggest a mix of profit-taking, consolidation, and potential buying opportunities in various futures contracts. It is essential for traders to carefully monitor support levels, set stop-loss orders, and be mindful of overbought conditions. By staying informed and reacting strategically to market movements, investors can navigate the volatility and capitalize on opportunities for growth and success in the financial markets.