S&P 500: Longs need stops below 4160
|Emini S&P 500, Nasdaq, Emini Dow Jones
Emini S&P JUNE consolidates in the bull trend in severely overbought conditions. We do have double top risk at the all-time high of 4233/38. A break above 4243 is a buy signal.
Same levels apply for today.
Nasdaq JUNE holding first support at 13650/625 yesterday to keep the outlook positive with a break above last week’s high at 13773/783 targeting 13818 (hit) &13950/970 today.
Emini Dow Jones dips to the first support at 34550/500.
Daily analysis
Emini S&P seeing a recovery towards more important resistance at the all-time high at 4233/38, despite severely overbought conditions. A break higher targets 4260/65.
First support at 4200/4190. A break lower to retests good support at 4170/65. Longsneed stops below 4160. A break lower is a sell signal targeting 4140/35, perhaps as far as 4120/10.
Nasdaq beat last week’s high at 13773/783 targeting 13818 (hit) & 13950/970 before retest of the all-time high 14045/065.
Best support at 13680/630. Longs need stops below 13590. A break lower retestsshort term moving average support at 13480/460 with best support at 13380/350 this week. Longs need stops below 13300.
Emini Dow Jones tests first support at 34550/500. Longs need stops below 34450.Next target & support at 34310/280.
Holding first support at 34550/500 targets 34800 before a retest of the all-time high at 34900/35000.
Chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.