Stock markets are hit again as more tariffs are imposed

Emini S&P March futures

• Emini S&P shorts at resistance at 5645/50 worked perfectly as did longs at support at 5540/30.

• I expect resistance at 5678/88 today & shorts need stops above 5700.

• Targets: 5650, 5635, 5620

• A break above 5700 can target 5730 & resistance at 5770/80. Shorts need stops above 5790.

• Support again at 5540/30 & longs need stops below 5520.

• Targets: 5555, 5570, 5585.

• A break below 5510 is a sell signal targeting 5500, 5680, perhaps as far as 5660.

Nasdaq March futures

• Emini Nasdaq made a low for the day exactly at the buying opportunity at 19250/150.

• Again longs need stops below 19000 on a retest today - perhaps this will be the low for the correction.

• A break below 19000 is a sell signal targeting 18850, 18600

• Minor resistance at 19600/620 was tested with a high for the day at 19686 & we should struggle here again today - Yesterday I said we may reverse and retest the buying opportunity at 19250/150.

• This is exactly what happened & could do again today

• However a break above 19700 can target 19850/950 with a good chance of a high for the day here but shorts need stops above 20050

Emini Dow Jones March futures

• We made a high for the day exactly at resistance at 42100/200 & collapsed to my target of 41400/41200 with a low for the day exactly here.

• A perfect call!!

• 41300/41200 is important support today.

• Targets on the bounce are 41650 & 41800.

• I expect strong resistance at 42100/200 & shorts need stops above 42350.

• A break below 40950 is a sell signal targeting 40700/600, perhaps as far as 40200.