Emini SP 500, Nasdaq, Emini Dow Jones

Emini S&P JUNE up one day, down the next day in the sideways trend as we start to establish a sideways consolidation phase. We hit all targets as far as 4118/14 &bottomed exactly here.

Nasdaq JUNE hit strong resistance at 13870/910 but overran by just 34 ticks before prices collapsed to our targets of 13820/800 & 13720/700. We bottomed exactly here.

Emini Dow Jones held 100 ticks from the all-time high at 34140/144 & bottomed exactly at best support at 33630/600.

Daily analysis

Emini S&P meets strong resistance at 4145/50 on the bounce. Further gains can retest the all-time high at 4180/4183.5. A break higher targets 4187/88 & 4205/07.

Holding 4154/50 targets 4135 & 4118/14. Strong support at 4105/00. A break below4095 signals further losses to 4080 with strong support at 4075/70. Longs need stops below 4065.

Nasdaq holds strong resistance at 13870/910 to target 13820/800 & 13720/700 with strong support at 13640/600. Watch for a low for the day. Longs need stops below13550. A break is lower to targets 13450, perhaps as far as 13370/330.

Strong resistance again at 13870/910. The big 14000 number has held the index as expected. Obviously, a sustained break above 14050 opens the door to further significant gains, initially targeting 14170/200.

Emini Dow Jones bottomed exactly at best support at 33630/600. A break below33550 however risks a slide to 33450/440 & strong support at 33290/240. Longs need stops below 33190.

Holding best support at 33630/600 targets 33770/790, perhaps as far as 33900/920. Watch resistance from yesterday’s high at 34000/040 up to the all-time high at34140/144. This is key to direction today in severely overbought conditions. Watch for a minor double top. A break higher however targets 34220/240 & 34330/350.


SP500NASDAQDow Jones

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.

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