E-Mini Nasdaq starting to look like we have run out of momentum and we are in need of a correction to ease overbought conditions. First support at 4644/40 could hold for longer, but below here eventually targets better support at 4625/21. A good chance of a bounce from here as we are not expecting prices to collapse - more of a sideways move to ease overbought conditions. However, further losses would target 4610/09 and perhaps as far as good support at 4597/94.
First resistance at the high of 4669/4670 as we struggle higher. A break is not out of the question but is likely to be a slow crawl towards 4675. We are waiting for more of a sell signal to indicate a much needed correction, but until we see this, further gains this week could target 4695/99, 4705/10 and the all-time high 4635/4639.50.