S&P 500, NASDAQ And Dow Jones Forecast

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September ranges are narrowing as we wait for the non farm payroll release, ahead of the Labor day holiday. The trend definitely remains positive of course. A new all time high at the next target of 4540/45. We topped exactly here so far this week. Same levels apply for today.

hit the next target of 15520/540 and then 15670/680. A new all time high just above at 15699. We are severely overbought but shorts are too risky with no sell signal in the strong bull trend.

September longs at first support at 35260/210 worked perfectly with a 250 tick bounce so far this morning.

Today’s Analysis

E-mini S&P hit the next targets of 4497/4500, 4415/20 and 4540/45 already this week. Now we look for 4560, perhaps as far as 4585/90.

No sell signal despite overbought conditions. This has been the case for years!! Downside is expected to be limited with first support at 4515/05. (We bottomed exactly here again yesterday). Better support at 4475/65. Longs need stops below 4455.

NASDAQ hit the next target of 15520/540 and 15670/680 as we look for 15800/830. Downside is expected to be limited with no sell signal yet. Support at 15540/520 (we bounced just 11 ticks above here yesterday) and again at 15480/460. Longs need stops below 15400.

E-mini Dow Jones September bottomed exactly at first support at 35260/210 with a bounce through minor resistance at last week’s high of 34420/445 before a retest the all time high at 35500/550. A break higher (likely eventually) is a buy signal initially targeting 35700/750 then 35870/880.

Emini S&P 500 Chart

Disclaimer: First support again at 35260/210. Longs need stops below 35160. A break lower targets 35110, perhaps as far as strong support at 35050/35000. Longs need stops below 34950. No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

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