Dow Jones, S&P and NASDAQ 100

The markets have not changed since I posted few days back. Dow Jones future (YM) having hard time maintaining 12,500 level. It seems it has found resistance at 12,580 level and the break of 12,340 could bring it down to 12,185. I expect one big down day to bring Dow Jones to 11,869-11,880 level. This is where I expect Dow Jones to find some support. Dow Jones resistance above is at 12,735-12,740 level.

S&P Future (ES) failing miserably at 1328-1330 level. It is unable to penetrate. So this is telling me that eventually S&P would come down. The support is at 1297 and 1280. 1280 should not be broken otherwise S&P could come down fast towards 1265-1268 and possibly all the way to 1245. S&P resistance above is at 1340-1345 level.

NASDAQ 100 is unable to conquer 2560 level. Watching NASDAQ 100 future for last five sessions telling me that NASDAQ 100 does not have strength. The support it has found is at 2500 and the break of 2460 (the recent low) would bring it down to 2420 level and once 2420 level broken then we could see 100 point drop. All big names are going down AAPL GOOG PCLN AMZN. AMZN had good run up and I believe it is about to give in and come down tumbling to fill the gap. QQQ closed at 62.07. It can drop 6 points. DIA closed at 124.26. It can drop $5.5 points. NASDAQ 100 resistance above is at 2580-2600 level.

4 Comments

  • rks says:

    We need a close below 1300 on spx for any downside. this market is real tough for to trade

  • rks says:

    We need a close below 1300 on spx for any downside. this market is real tough to trade.
     
    Nice to see the new comment section…

  • KSyedFMW says:

    Thanks, glad you like our new commenting system. Don’t forget to “Like” the article and share on your twitter / Google+!
     
    I’m sure Noshee will reply to your comment with something more intelligent than I can put together.
     
    MKS

  • marketswizard says:

    For me 1296 is the number I am looking for to close below. If you note this is where S&P bounced and three sessions back have a hammer candle. So this is the support for now. As I write ES is trading at 1322

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