Emini Dow Jones, Nasdaq June Futures
Dow Jones 30 Futures edges higher, beating minor resistance at 24525/575 to retest key resistance at the April recovery high at 24750/790
Nasdaq 100 is higher, as expected, hitting all targets as far as 9530/40.
As I write we topped exactly here but bulls remain in full control despite severely overbought conditions.
Today’s Analysis
Emini Dow Jones holding above 24525/575 to retest key resistance at the April recovery high at 24750/790.
A break higher actually looks quite likely now targeting 24950/970 then resistance at 25140/180. If you are brave enough to try shorts at 24750/790 look for 24670/650 then minor support at 24550/530.
Below 24500 risks a slide to 24430/420. Nasdaq hits all targets as far as 9530/40 as we look for 9580/90, perhaps as far as 9610/20 today.
If we continue higher look for 9655/60 before a retest of the all time high at 9760/63. Downside expected to be limited while we wait for a sell signal. Below 9500 however risks a slide to 9430/20. Try longs with stops below 9400.