e-mini Nasdaq 100: the selling goal is very close

The e-mini Nasdaq 100 has climbed more than a 14% since the past February the first, when it  strengthened its middle-term uptrend, which was born in March 2009. Prices developed a support in the zone of 1.730 points, which has been the beginning of the last rising impulse.

Currently, its technical position involves a call for prudence to those investors who trade in a short-term basis. This opinion is based on two technical obstacles that this index may have to face in the next sessions:

First, the resistance of 1.960 points represents a significant bearish stronghold. This level was the last decent opportunity for many investors to go out from the market in August 2008, just before the Stock Markets collapsed. As for the Nasdaq 100 it plumbed almost a 50% in barely a quarter.

Secondly, the raising channel top is very near. Therefore, the bearish positions should make some kind of additional pressure. Consequently, they could interrupt the current middle and short-term upwards movement.

The technical recommendation is to open bearish positions around the level of 1.950-1.970 points. It´s advisable to set a stop loss around the level of 2.020 points.

E-mini S&P 500 future contract: Rising structure remains

The e-mini S&P 500 future contract has kept an impeccable short-term rising tendency. The decline between January the fifteenth and February the tenth increased the likelihood to extend its eleven-month primary upwards movement, due to the fact that it was able to diminish its excessive overbought situation that most of technical indicators showed. Therefore, the correction from the level of 1.150 to 1.050 has played a key role, because it has boosted this new rising impulse.

To sum up, this index remains bullish from a middle and short-term perspective. Prices in the first scenario are guided by the parallel lines, which are the current limits to its movement. As for the short-run strategy, it should be planned taken into account that the rising trend, born five weeks ago, remains intact.

So far, the e-mini S&P 500 maintains its successive higher-low prices. The last supports shall be watched over, so that investors remain confident that the rising structure continue going ahead. This important zones are the level of 1.150 and 1.130 points.

The recommendation for this index is to keep long positions. Stop loss in 1.125 points.