Stocks soar as predicted [Video]

Emini S&P futures

• Emini S&P June futures shot higher from an over night low at 6,353.
• As you know from my videos, I called for a low for the correction on Monday & also on Tuesday morning.
• We ran up to resistance at 6,480/6,500 & initially shorts worked as prices reversed from 6,497 to 6,447. A potential profit of up to 500 ticks.
• Then we shot higher above 6,520 for a buy signal targeting 6,560/6,570.
• That target was hit before the end of the day.
• Yesterday's huge bullish engulfing candle suggests I am right and we will resume the longer term bull trend.
• However we meet resistance at 6,595/6,605.
• Shorts need stops above 6,620. Our shorts can target 6,570 & support at 6,550/6,540.
• Here, longs need stops below 6,525.
• Strong support at 6,510/6,500 should see a low for the day is tested but longs need stops below 6,485.
• A break above 6,620 is a buy signal targeting resistance at 6,635/6,655.
• There is a good chance of a high for the day but shorts need stops above 6,680.
• Targets: 6,610, 6,585.
• Emini Nasdaq June futures tested the descending trend line going back to 10 October at around 23,200/23,150 and an important weekly moving average at 23,000.
• We made a low for the correction at 22,961.
• As I said, ''strong support at 23,200/23,000 remains key to direction. If we can recover & hold above 23,440, that would also be positive...Then above 23,700 looks more positive''.
• As you saw in my video, I was calling for a low for the correction at the start of this week.
• The longs worked perfectly as we shot higher to all targets & ran through 23,700, as far as 24,000.
• Yesterday's huge bullish engulfing candle suggests I am right about a low for the correction and we have resumed the longer term bull trend.
• However we meet resistance at 24,050/24,150.
• This is the main challenge for bulls today & shorts need stops above 24,250.
• A break higher is a buy signal & see 24,150/24,050 act as support to target 23,330/350.
• A break above 23,450 is the next buy signal targeting resistance at 24,700/24,800
• Shorts need stops above 24,950. Shorts at 24,500/400 for profit taking.

Emini Dow Jones futures

• Emini Dow Jones June shot higher from strong support at 45,300/45100 again yesterday as expected to first resistance at 46,350/46,500.
• The resistance failed & the break higher was a buy signal targeting 47,200/47,300.
• We ran as far as 46,643 & the outlook remains positive.
• We could struggle a little at 46,730/780 but shorts are too risky.
• We should eventually continue higher towards 47,250/300.
• Strong support at 46,450/300 & longs need stops below 46,100.