Emini SP 500 _ Nasdaq June contract
Emini S&P 2 month trend line resistance at 2912/15 is key to direction. Shorts need stops above 2920. A break higher targets 2924/26, perhaps as far as 2935/37. First support at 2900/2898 held perfectly yesterday, but below 2895 re-targets 2890/88 then minor support at 2886/84. A break lower retests last week's low at 2879/77.
Nasdaq bounce from minor support at 7598/96 rockets straight back to minor resistance at 7655/60. Markets become more volatile in overbought conditions when they top out. Just be aware, but we wait for a sell signal. Minor support at 7645/40but below here targets 7625/22. Further losses target 7602 then minor support at 7598/96 again. Bulls obviously need a break above 7665 to target 7683/86 then strong resistance at 7695/7705.
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