Emini Dow Jones recovery as expected to 24690/700
|Emini Dow Jones June contract
Emini Dow Jones recovery as expected to 24690/700, 24745/750 & resistance at 24830. We certainly did pause here as predicted, but shorts are still risky in the bull trend. On further gains look for 24890/899 before the recovery high at 24960/970.
Key support at 24625/615 of course & we bottomed just 6 ticks above here yesterday. Longs need stops below 12570. A break lower is a short term sell signal targeting 24470/460, perhaps as far as minor support at 24400/390. We are getting oversold short term, so a bounce from here is expected.
S&P June contract
Emini S&P holding above 2620/22 as I write, allows a further recovery & above 2728 targets 2733/35 before a retest of 2740/41 & minor resistance at 2743/45.
Minor support at 2620/18 but below here risks a retest of our buying opportunity at 2708/06, with stops below 2700. A break below 2695 however is a short term sell signal targeting 2686/84. Watch for a bounce from here on the first test, possibly back up to 2695/99. Longs need stops below 2680 & a break lower targets 2675/74.
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