Stock Markets Under Pressure as Iran Tensions Rattle Sentiment

1. E-mini S&P June has collapsed as Israel attacks Iran.
   The low and high for the last session were 5987 - 6051.
   (To compare the spread to the contract you trade)
2. Emini Nasdaq June has collapsed to 21471
   Last session high and low were: 21713- 21977.
3. Emini Dow Jones June has collapsed to 42199
   Last session high and low for the last session were: 42586 - 43002.

Emini S&P JUNE Futures

• Emini S&P tested support at 6010/6000 and longs needed stops below 5990, which was tricky as we overran to 5988 before a 600 tick recovery.
• Overnight, we collapsed to strong support at 5950/40, and longs needed stops below 5930.
• We made a low for the overnight session so far at 5927.50, and of course, conditions are more volatile as the situation develops.
• If we continue lower, look for a test of support at 5895/85.
• Longs need stops below 5875.
• We are likely to meet resistance at 5995/6005, but a break above 6010 suggests the panic is over.

Nasdaq June Futures

• Emini Nasdaq made a low for the day at strong support at 21750/680 yesterday with an impressive recovery from 21713 to 21977.
• The break lower overnight risks a slide to 21440/400 (a low at 21471 as I write) and perhaps as far as a buying opportunity at 21300/250.
• Resistance at 21700/21800, but a break above 21900 suggests the panic is over.

Emini Dow Jones June Futures

• Emini Dow Jones made a low for the day almost exactly at support at 42660/600 before we shot higher to 43000 for up to 350 ticks profit on the longs.
• The break lower overnight hit my target and buying opportunity at 42350/250, and longs need stops below 42100.
• Just be aware that a break below 42100 can target 42050/42000, perhaps as far as 41900/850.
• Longs at 42350/250 can target 42400/450, perhaps as far as 42550/590 for profit-taking.
• Further gains meet resistance at 42600/700, and shorts need stops above 42850.