However a break above 4830 negates the bearish candle formation for a buy signal this week targeting 4835/38, 4843/45 & 4864/67.
First downside target is 4740/30 but we could fall as far as 4680/60.
I think it is worth trying a long at 4680/60 with stop below 4650.
Nasdaq March futures bounced to resistance at 16900/950 & shorts need stops above last week's high at 17073. (We got close on Friday but held below). A break above 17100 however negates the bearish candle formation for a buy signal this week targeting 17200/240 & 17350/370, perhaps as far as 17440/460.
A break below 16895 (which just held on Friday) today could be taken as a sell signal targeting 16820/810, perhaps as far as 16770/750. A break below here (the low of the bearish engulfing candle targets minor support at 16700/680 for profit taking on any remaining shorts.
Emini Dow Jones March I suggested a short at 37700/800 (we reached 37878 on Friday) & stop above last week's high at 38012. A break higher targets 38150, 38230 & 38300.
A break below 37500 today is a sell signal & can retest last week's low at 37420/390. A break lower is a sell signal targeting minor support at 37250/200.
