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  • JUNE holding 10 points above the next target of 4190/4200 in an erratic consolidation phase. Key resistance at all time high at 4233/38 of course.
  • JUNE holding first support at 13380/360 to target 13550/560 then strong resistance at 13630/670. We topped exactly here as I write. Shorts need stops above 13710.
  • beat 34300/350 to hit the next target and strong resistance at 13630/670. However, we over ran to 13738.

Today’s Analysis

The E-mini S&P was holding above the 4190/4200, targeting the all time high at 4233/38. A break higher targets 4260/65. Below 4180 tests strong support at 4160/50. Stop below 4140. A break lower to is a sell signal targeting 4120/10, perhaps as far as 4095/85.

NASDAQ beat resistance at 13630/670 for a buy signal targeting 13800/820. Further gains can retest the all time high at 14035/065. Failure to hold above 13600, however, risks a slide to 13550/530, perhaps as far as first support at 13420/13380. Longs need stops below 13350.

The E-mini Dow Jones was holding above 34200, re-targeting 34430/480. On further gains, look for 34600/630 before a retest of the all time high at 34900/35000. Best support at 34200/34100, but longs need stops below 34000. A break lower can target 3390/880 and 33650/600. Further losses can retest last week’s low at 33450/400.

E-mini S&P 500 Chart

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