Dow Jones: A buying opportunity at 33900/800 [Video]

Original content: Dow Jones: A buying opportunity at 33900/800 [Video]

  • Emini S&P 500 June longs at first support at4460/50 worked perfectly on the run from 4445 up towards strong resistance at 4530/40.

  • Nasdaq June beat resistance at 14400/500 for a buy signal targeting 14650/680 (a high for the day exactly here yesterday) then 14820/870 Only 40 ticks away as I write over night).

  • Emini Dow Jones June reversed 58 ticks from strong resistance at 34850/950 to see a low for the day at strong support at 34250/150. If you managed to enter a long here, we shot higher to target 34400/450 before a test of this week’s high at 34750/800 (hopefully today for profit taking).

Daily analysis

Emini S&P 500 June longs at first support at 4460/50 hit the first target of 4490/4500 & retest this week’s high at 4514. Expect strong resistance at 4530/40. Shorts need stops above 4555. A break higher retests the February high at 4575/78.

First support again at 4460/50. Longs need stops below 4430. A break lower targets 4405 & 4395, perhaps as far as strong support at 4370/60. Longs need stops below 4350.

Nasdaq June beat resistance at 14400/500 for a buy signal targeting 14650/680 & now 14820/870. If we continue higher expect strong resistance at 15100/15200. Shorts need stops above 15300.

Minor support at 14450/400. Better support at 14300/250. Longs need stops below 14200. Next target & strong support at 14050/14000. Longs need stops below 13900.

Emini Dow Jones June rockets from strong support at 34250/150 target 34400/450 before a test of this week’s high at 34750/800. Strong resistance at 34850/950. Shorts need stops above 35150.

Strong support again at 34250/150 but below here can target 34050 then a buying opportunity at 33900/800 – longs need stops below 33700.

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