- Emini S&P June futures shorts at strong resistance at 5145/55 worked perfectly as the index crashed 100 points yesterday.
- Emini Nasdaq collapsed from just below my resistance at 18050/18150.
- Shorts at strong resistance at 5145/55 worked perfectly with a high for the day exactly here before the index crashed to my targets: 5130, 5110, 5090 and even 5050 !!
- A great call!!
- We should have support at 5050/5040 (with a low for the day almost exactly here yesterday) and longs need stops below 5025.
Targets: 5080, 5100, 5110. - If we see a very strong bounce we should meet strong resistance again at 5145/55.
- A break lower is a sell signal and sees 5035/45 act as resistance to target 5020 and 5010/05.
- A break below 5000 is the next sell signal targeting 4985 and even 4970/65 is possible.
- We headed lower as expected but unfortunately could not quite reach strong resistance at 18050/18150 although targets of 17850, 17750, 17650 were all hit.
- Holding below strong resistance at 17570/630 keeps the pressure on for 17330/300, perhaps as far as 17150.
- Shorts at 17570/630 stop above 17680.
Emini S&P has recovered all the losses and bounced 100 points to 5134.
Nasdaq June futures caught me out as we shot higher to 17717.
Video Analysis: