CharmerCharts
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Today's CharmerCharts.com S&P and Dow Jones daily forecast (available from 6am BST) is attached.
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Charmer Charts S&P and Dow Jones daily technical analysis forecast
- Thread starter CharmerCharts
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CharmerCharts
Active member
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CharmerCharts
Active member
- Messages
- 182
- Likes
- 0
CharmerCharts
Active member
- Messages
- 182
- Likes
- 0
CharmerCharts
Active member
- Messages
- 182
- Likes
- 0
CharmerCharts
Active member
- Messages
- 182
- Likes
- 0
S&P remains looking under pressure especially when 1367 broke. We have reached 1352 and although
we have seen a small correction off these lows unless we can climb back above 1367 we
will trade lower...
1335 looks to be the target for the rest of this week...and we should attain this support by Friday...
Shorts should be covered here as it is a major fib level from the med term charts and also the
market will be dangerously oversold by then and looking to turn...We have made a top in the market
and we were calling this lower...so this weakness should not be surprising....
We are looking for 1367 to cap this session, and we would advise sellers to come back into the
market on any bounce to these higher levels and we would hold shorts unless a break above 1372
is posted....preferably on a close basis....Only such a move would ease the bearish sentiment for
the short term and then we could see a move to 1383/84 before resuming the downward trail.
Dow Jones took a tumble yesterday reaching the medium term 61.8% fib level and good trendline
support which held us up. We have staged a bit of a recovery today but remain below fib resistance
at 12745.
If we can break back above this level we may then see a further bounce up towards further fib resistance at 12864 up to yesterdays highs at 12899. Above here and we would then look to
12930/46 before 13000.
If we fail to get above 12745 and see the selling pressure resume we have good support at
12628/39 which may hold us up for today but go with a break lower as your next downside target is
strong support at 12436/61 which should hold at the first attempt.
NASDAQ has posted a small recovery so far today after yesterdays sell off. The recovery remains below fib resistance at 2708.
If we can get above 2708 we may then target next resistance at 2739 which is likely to cap any rally today but a break higher targets 2760/61.
Support at med term 50% level at 2682 below here targets better support at 2651/57 which is likely to hold at the first attempt.
we have seen a small correction off these lows unless we can climb back above 1367 we
will trade lower...
1335 looks to be the target for the rest of this week...and we should attain this support by Friday...
Shorts should be covered here as it is a major fib level from the med term charts and also the
market will be dangerously oversold by then and looking to turn...We have made a top in the market
and we were calling this lower...so this weakness should not be surprising....
We are looking for 1367 to cap this session, and we would advise sellers to come back into the
market on any bounce to these higher levels and we would hold shorts unless a break above 1372
is posted....preferably on a close basis....Only such a move would ease the bearish sentiment for
the short term and then we could see a move to 1383/84 before resuming the downward trail.
Dow Jones took a tumble yesterday reaching the medium term 61.8% fib level and good trendline
support which held us up. We have staged a bit of a recovery today but remain below fib resistance
at 12745.
If we can break back above this level we may then see a further bounce up towards further fib resistance at 12864 up to yesterdays highs at 12899. Above here and we would then look to
12930/46 before 13000.
If we fail to get above 12745 and see the selling pressure resume we have good support at
12628/39 which may hold us up for today but go with a break lower as your next downside target is
strong support at 12436/61 which should hold at the first attempt.
NASDAQ has posted a small recovery so far today after yesterdays sell off. The recovery remains below fib resistance at 2708.
If we can get above 2708 we may then target next resistance at 2739 which is likely to cap any rally today but a break higher targets 2760/61.
Support at med term 50% level at 2682 below here targets better support at 2651/57 which is likely to hold at the first attempt.
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