Daily Forecast - 19 June 2017
S&P September Contract
Emini S&P bounced well from 2418 back to 2431/29 & over ran as far as 2439. Looks like we are in a sideways trend now for a while to ease overbought conditions...as is normal. Back below 2435 targets first support at 2430/29 & minor support at 2424 before the May high & good short term Fibonacci support at 2418/16 (which has held perfectly so far of course). Next downside target & Fibonacci support at 2408/06. A break below 2400 targets 2395 & perhaps as far as a buying opportunity at 2385/83.
Above 2436/39 sees prices head towards the double top at the new all time high at 2444/2445.75. If we do break higher unexpectedly, look for very strong resistance at 2457/59.
Emini Dow Jones September Contract
Emini Dow Jones on the way to the next target of 21395/405 & 21450/455 then 21610/620.
First support at 21320/315 but expect better support at 21285/80. Longs need stops below 21260. On further losses look for good support at 21220/210.
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