Daily Forecast - 04 April 2016
S&P June Contract
Emini S&P outlook remains positive until we see a sell signal with a break above 2067/68 to target late December highs for the March contract at 2074/75. If we continue higher look for 2082/83 then 2090/91.
Failure to hold above 2064 risks a slide to 2060 then support at 2049/48. Longs need stops below 2044. Further losses meet a buying opportunity at 2039/37. Longs need stops below 2034.
E Mini Nasdaq June Contract
Emini Nasdaq now holding above 4516/20 keeping bulls in control of the 2 month bull trend. Next targets are 4540/42, 4551/53, 4566 & 4570/73.
Below 4520 risks a slide to support at 4510/08. If we continue lower we could bounce off 4498/95.
Emini Dow Jones June contract
Emini Dow Jones holding above 17700 targets 17760/765 & 17785, perhaps as far as mid December highs at 17810/820. Further gains run in to strong resistance at November/December highs at 17905.
Below 17695 risks a slide to 17655 then support at 17560/550 for a buying opportunity. Longs need stops below 17510.
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