Emini S&P June futures target at 6,885/6,890

Emini S&P futures

Emini S&P June futures finally reached my ultimate target for last week at 6,885/6,890, after the buy

signals were triggered.

In fact we made a high for the day and for the week exactly here, so it could not have been more accurate.

I did explain that the 6,880/6,900 was resistance and in overbought conditions, just before the weekend,

traders & investors may decide to take some profits.

So it was no surprise to see prices reverse back to 6,847.

As peace talks breakdown over the weekend I assume we will see a sell off on Sunday night.

First target could be 6,820/10 then 6,790/6,780 before some support at 6,770/6,760.

A bounce from here is possible, but I guess that depends on war developments and Trump’s messages.

A break below 6,755 risks a slide to 6,730 and maybe 6,710.

If we continue lower look for strong support at 6,700/6,680.

If you feel brave enough to try a long position, stop below 6,660.

Nasdaq futures

Emini Nasdaq June futures edged a little higher to 25,393 in a very quiet session.

A sell off target 25,220/200 then 25,100/25,000.

On a break below 25,920 look for some support at 24,850/24,800. This may hold initially (depending on

developments in the war) and a bounce to 25,000/25,050 is not out of the question.

However a break below 25,750 signals further losses towards 24,680/650 then support at 24,520/24,440.

A low for the day is possible but longs need stops below 24,350.

Emini Dow Jones futures

Emini Dow Jones June hit my target of 48,400/500 after the buy signals last week and made a high for the

day and for the week almost exactly here.

We also made a low for the day exactly at first support at 48,100/48,000, so I am certainly happy with how

the levels worked again last week.

A break below 48,000 seems likely on the open and should target support at 47,800/47,700.

Whether this is strong enough to trigger a bounce from here depends on how the war escalates over night I

guess.

A break below 47,650 risks a slide to 47,500/460 then support at 47,250/47,150.

If the situation is not too serious, a low for the day is possible here but longs need stops below 47,000.