Emini SP 500 – Nasdaq

Emini S&P JUNE has almost doubled from the 2020 March low in the best year ever for the US stock market as we hit 4076.

Nasdaq JUNE we wrote: topped exactly at the next target of 13650/680. We are very overbought now so there is the risk of some mid-week profit taking. First support at 13550/530…

Initially we headed lower as predicted & the low for the day was just 17 ticks below here.

Daily analysis

Emini S&P severely overbought so come mid-week profit taking is possible with first support at 4060/55 & better support at 4045/40. Further losses however can target 4025/20.

Above targets 4085/90, Perhaps as far as 4105/10.

Nasdaq making a break above 13680 this morning to target 13710/730 & the all-time high of 13850/899. Obviously, a sustained break above 13900 is a positive signal, initially targeting the big 14000 number. A weekly close above here tomorrow night would be another obviously positive signal for next week.

First support at 13620/600 but below here can target strong support at 13530/500.



The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD slips below 1.2050 amid dollar strength

EUR/USD is trading below 1.2050, losing some of its gains as the dollar shrugs off the fresh drop in yields and rises. European regulators said the benefits of J&J's vaccine outweigh the risks.


GBP/USD retreats from 1.40 despite upbeat UK job figures

GBP/USD is extending its falls after retreating from 1.40 as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 


XAU/USD tests key Fibo resistance at $1,775

XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance.

Gold News

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

Read more

S&P 500 (SPX) Update: Equity markets take a well deserved breather, crypto stocks slide

Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates.

Read more