E-mini S&P JUNE new all time high at 4211 before prices collapsed to strong support at 4175/72. Longs here worked perfectly on the bounce back to 4290.
NASDAQ JUNE double top risk as we reverse from the all time high at 14060 as we retest first support at 13900/850.
E-mini Dow Jones topped exactly at first resistance at 33950/34000 & bottomed exactly at best support at 33660/610.
Today’s Analysis
E-mini S&P minor support at 4185/83 then strong support at 4170/65. Longs need stops below 4160. A break lower to targets 4145/40.
Minor resistance at the new all time high of 4209/11. If we continue higher look for 4220/22 and 4231/33.
NASDAQ double top risk at the all time high at 14060 as we hold below here again yesterday. A break higher however opens the door to further significant gains, initially targeting 14140/150 and 14250/270, perhaps as far as 14400.
Failure to beat the all time high at 14060 risks a small double top reversal pattern.
We tested support at 13900/860 but over ran to 13818. First support at 13780/750 today. Longs need stops below last week’s low at 13700. Further losses meet strong support at 13640/600.
E-mini Dow Jones topped exactly at minor resistance at 33950/34000. Further gains retest the all time high at 34140/144. A break higher however targets 34220/240 and 34330/350.
Minor support at 33860/830 before the best support for today again at 33660/610. Longs need stops below 33560. A break lower targets 33450/440 and strong support at 33290/240. Longs need stops below 33190.
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