Stock markets remain volatile

Emini S&P June futures

• Emini S&P held support at 5380/60 for a few hours but longs were only offered around 50 points profit (which normally would be huge) before we broke below 5345.

• If you managed to sell the break we hit targets of 5280/75 & 5220/00.

• We made a low for the day exactly at strong support at 5155/35 & longs need stops below 5120 on any retest today.

• Longs worked perfectly on bounce back towards 5360/80.

• Obviously this is resistance  for today.

• Shorts need stops above 5410.

• Further gains target 5425 & a break above 5430 can target 5440 then 5475/80.

• Resistance at 5500/10 & shorts need stops above 5530.

Nasdaq June futures

• Emini Nasdaq broke the 1st support to sink as far as 18,000 - 17,900 but made a low for the day exactly at this support.

• A break below 17750 however risks a slide to 17400/350, perhaps as far as 17300/250.

• Minor resistance at 18675/18775

• A break above 18900 however opens the door 19100/200 before a retest of 19330/380.

• A break above 19,500 can target trend line resistance at 19700/750 so a break above 19800 should be a buy signal targeting 20,000 to 20,100.

• A high for the day is possible here.

Emini Dow Jones June futures

• Emini Dow Jones broke support at 39,900/ 39,600 to trigger a move to 39,000 & strong support at 38800/38700.

• Longs here worked perfectly with a low for the day at 38631 & a 1400 point bounce.

• Minor resistance at 40000/40200 is key to direction this morning.

• Shorts need stops above 40400.

• A break higher targets 40550/650 before a retest of 41000/41140.

• A break above 41,400 should be a buy signal for today Targeting 41,750 / 41,850 With resistance at 41,900 /42,100 And shorts need stops above 42,400.

• Failure to beat minor resistance at 40000/40200 targets 39500/400 before a retest of  strong support at 38800/38700.

• Longs need stops below 38550.

• A break lower can target 38200/100.