S&P 500 Futures: Support at 6,050/45 Is Key to Next Direction This Week

2024.12.18 03:41

1. Emini S&P December retested support at 6050/45 yesterday.
The low & high for the last session were 6011 – 6079.
(To compare the spread to the contract you trade)

2. Emini Nasdaq December hit my next target of 21920 then reversed yesterday to support at 21920/820
Last session high & low for the last session were: 21942- 22124.

3.Emini Dow Jones December continues lower to 43367 with losses 9 days in a row.
Last session high & low for the last session were: 43367 – 43772.

Emini S&P December Futures

• support at 6050/45 is obviously key to direction again this week.
• Longs here can target 6057, 6066, 6070, perhaps as far as 6081/83.
• Just be aware that a break below 6040 can target a buying opportunity at 6020/10 & longs need stops below 6000.
• On a break above 6112 we can target 6126/31 & eventually 6170/75 is possible.

Nasdaq December Futures

• break above 21840 targets 21920 (hit), perhaps as far as 22200/250 this week.
• On further gains look for 22290/299.
• First support at 21920/820 has been hit & longs need stops below 21750.

Emini Dow Jones December Futures

• broke the 50 day moving average at 43590/550 & now meet the 4 month ascending trend line at 43380/340.
  A break below 43290 risks a slide to 43000/42990.

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