Emini Dow Jones June retests minor support at 32400/300
|Emini Dow Jones – Nasdaq
Emini Dow Jones JUNE reversed just 11 ticks from first resistance at 23650/700 to testminor support at 32400/300.
Nasdaq JUNE has traded sideways for 2 weeks in a 600 point range.
Daily analysis
Emini Dow Jones June retests minor support at 32400/300 but below 32250 risks aslide to 32100/050. Longs need stops below 32000. A break lower targets 31900/850.
First resistance at 23650/700. A break above 320750 opens the door to 32850/870,perhaps as far as 30000/33050 before a retest of the June contract high at 33116.
Nasdaq holding above 13000 ( we held 12979 yesterday) targets a 4 week trend lineat 13150/170. Above 13190 retests the high from last week at 13287/298. A breakhigher targets 13500/550.
A break below 12900 is a sell signal initially targeting the lower end of the range at12800/750. A break below 12700 targets 12600 / 12550. If we continue lower look for12430 / 12400 before a retest of the March low at 12225 / 12200.
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