- E-mini S&P JUNE consolidation is in a 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.
- NASDAQ JUNE finally breaks first support at 13650/600.
- E-mini Dow Jones shot higher through 34650 for a buy signal targeting 34800 before a retest of the all time high at 34900/35000.
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 is holding first support at 13650/625, making it a buy signal with a break above this week’s high at 13773/783 targeting 13818 and 13950/970 before a retest of the all time high 14045/065. First support is at 13650/625. Longs need stops below 13575. A break lower retests the 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 is on the way to the next target of 34800 before a retest of the all time high at 34900/35000. First support at 34550/500. Longs need stops below 34450. Next target and support at 34310/280.
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