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S&P 500 Dow Jones Industrial and NASDAQ trading at key levels – weekend premiere – 14-15 November 2015

First, we condemn the shocking events which took place in Paris last Friday.

Markets: S&P 500, Dow Jones Industrial Average, NASDAQ 100

In our article published on 24 October 2015, we discussed the key levels and the targets for the S&P 500, Dow Jones Industrials and the NASDAQ. It is very interesting to see that those targets were hit and the markets reversed sharply thereafter as indicated and warned in the article. Click here to access the article. S&P 500, we had a target of 2105 for the ES front month contract, the market reversed from there.

Now the market is setting up an interesting pattern coming into the next week. For S&P 500 (ES front month contract) we are looking at the levels right about where the market closed last Friday as strong support levels. It is possible due to the sad events which took place last Friday in Paris, France, the market opens sharply lower but it will be critical to watch how the market will close the day.

S&P 500 (ES front month):

Taking a look at the ES front month contract, the index is at a strong level of support between the 2008 and 1996 region. This should be watched carefully. If we go below 1993, then a much larger correction is in the making and protection and carefulness in the market place is warranted.

ES Front month Daily chart. www.marketchartpattern.com

ES Front month Daily chart. www.marketchartpattern.com

Lets take a look at the shorter term 1 h chart of the ES front month contract. We have a confluence of a Fibonacci retracement and a Fibonacci price projection.

ES 1H chart. www.marketchartpattern.com

ES 1H chart. www.marketchartpattern.com

S&P 500 cash:

S&P 500 cash, zone to look for between 2009 and 2005. Further support around 1994. Going below this further intensive correction to follow.

S&P 500 Daily chart. www.marketchartpattern.com

S&P 500 Daily chart. www.marketchartpattern.com

S&P 500 1H chart:

S&P 500 1H chart. www.marketchartpattern.com

S&P 500 1H chart. www.marketchartpattern.com

Dow Jones Industrial Average (cash):

Dow Jones Industrials support 17200 followed by 17000 level.

Dow Jones Industrial Average 1H chart. www.marketchartpattern.com

Dow Jones Industrial Average 1H chart. www.marketchartpattern.com

Dow Jones Industrial Daily chart:

Dow Jones Industrial Average daily chart. www.marketchartpattern.com

Dow Jones Industrial Average daily chart. www.marketchartpattern.com

NASDAQ 100

Looking for support in the zone of 4485 to 4475 for the NDX.

NASDAQ 100 daily chart. www.marketchartpattern.com

NASDAQ 100 daily chart. www.marketchartpattern.com

NDX 1 H chart:

NDX 1H chart. www.marketchartpattern.com

NDX 1H chart. www.marketchartpattern.com

Good luck and wish you all a prosperous trading week ahead!

 

 

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