E-Mini S&P 500, NASDAQ, E-Mini Dow Jones Daily Forecast

  • 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.

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

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