S&P 500, NASDAQ, Dow Jones Daily Forecast

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JUNE tests very strong resistance at 4155/60 this week.

JUNE struggles at strong resistance at the big 14000 number as expected.

hits next target & strong resistance at 33860/920. Bulls now need a break above 34000 for the next buy signal in to next week.

Today’s Analysis

E-mini S&P strong resistance at 4155/60 this week. A break above 4175 therefore keeps bulls in control, initially targeting 4195/4200.

Of course we are severely overbought & this trend line is strong. Shorts in such a bull trend are never a smart idea but I do believe there is a good chance of some profit taking to 4149/46 and 4125/20. Below 4110 risks a slide to strong support at 4090/85.

NASDAQ meets strong resistance at the big 14000 number this week and we topped a fraction above at 14029/034 this week. Obviously a sustained break above 14050 opens the door to further significant gains, initially targeting 14170/200.

As I write this morning we are testing strong support at 13900/850 and again at 13780/740. Longs need stops below 13700.

E-mini Dow Jones downside is expected to be limited with minor support at 33700/650 then strong support at 33400/350. Best support at 33100/33000. Longs need stops below 32900.

A break above 34000 targets 34200/240 then 34600/650.

Emini S&P Chart

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