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
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.
Recommended Content
Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.