S&P500: The best support for today at 2401/2399
|Daily Forecast - 30 May 2017
S&P June contract
Emini S&P edging back up towards. If we continue higher in the bull trend despite short term overbought conditions, look for 2425/26 & perhaps as far as 2436/38. Further gains in to next week target 2442/44.
First support at 2411/10 but below 2406 risks a slide to the best support for today at 2401/2399. Longs need stops below 2394. Next downside target & buying opportunity at 2390/88.
Emini Dow Jones June contract
Emini Dow Jones failure to beat the high last week at 21095 re-targets trend line support at 21020/10. On a break below 20995 look for support at 20950/940. Watch for a low for the day but longs need stops below 20920 to target better support at 20860/850.
First resistance at the high last week at 21095 before the all time high at 21162. A break higher targets 21305/315...eventually, but it is likely to be a slow crawl higher of course.
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