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US stock index futures roll to September expiry this week

The E-mini S&P 500 September contract is trading about 4 points above the June contract. The Nasdaq 100 September contract is trading about 27 points above the June contract. And the E-mini Dow Jones September contract trades only 5-8 points above June.

Let’s look at the short-term trading levels for the September contracts.

If the E-mini S&P holds first support at 2890/89 we target 2895/96, 2900/02 and perhaps as far as 2908/10 before the high at 2915/16. The next target is 2920/22.

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If first support at 2890/89 fails and we move below 2885 we risk a slide to 2880/79 and strong support at 2874/72. Long positions need stops below 2868 to target 2860/58.

The Nasdaq 100 has minor support at 7530/25. Holding above this level targets 7560/65 and 7600/05 before the recovery high at 7626. A break higher targets 7645/50 and 7660/65.

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A move below this minor support level targets 7510/05 and 7485/80 before a buying opportunity at 7472/67, with stops below 7460.

The E-mini Dow Jones offers minor support at 26045/025 but a move below here targets 25980 & strong support at 25900/885. Long positions need stops below 25840. A break lower targets 25770/765, then 25650/635.

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We are holding above 26120/130 as I write, to target minor resistance at 26245/280. A move above 26300 targets 26375/385. A break above 26400 targets 26465/475.

Jason Sen

Technical Analyst & Trader

For more information and trading education visit Intertrader

The content of this article is the personal opinion of the author and not Intertrader. You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is not investment advice. The information provided is believed to be accurate at the date the information is produced.

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