Emini S&P beat the 3 week high at 2677/79 to top exactly at the next target of 2687/89
|S&P June contract
Emini S&P beat the 3 week high at 2677/79 to top exactly at the next target of 2687/89 as I write. On further gains look for 2694/97 & a selling opportunity at 2700/05, with stops above 2715.
Good support at 2667/64 should hold the downside but below here targets 2658/56, perhaps as far as strong support at 2348/46.
Emini Dow Jones June contract
Emini Dow Jones resistance at what is now 2 week trend line resistance at 24630/640, after it has held twice. A break higher meets very strong resistance at 24780/799. Try shorts with stops above 24900.
We are overbought now & do not forget we are in a short term correction/bear trend still. In overbought conditions risks are increasing to the downside. Holding below 24630/640 targets 24530/520 & support at 24480/470. On further losses look for better support at 24380/360. Longs need stops below 24300.
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