- E-mini S&P JUNE consolidates in the bull trend in severely overbought conditions. We do have a 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 from yesterday to keep the outlook positive with a break above last week’s high at 13773/783 targeting 13818 (hit) and13950/970 today.
- E-mini Dow Jones dips to first support at 34550/500.
Today’s Analysis
E-mini S&P is 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 retests good support at 4170/65. Longs need 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) and 13950/970, before a retest of the all time high 14045/065. Best support at 13680/630. Longs need stops below 13590. A break lower retests short term moving average support at 13480/460 with best support at 13380/350 this week. Longs need stops below 13300.
E-mini Dow Jones tests first support at 34550/500. Longs need stops below 34450. Next target and support at 34310/280. Holding first support at 34550/500 targets 34800 before a retest of the all time high at 34900/35000.
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