Emini S&P June remains trapped in a frustrating, volatile, trendless sideways pattern, holding a 150 point range. Frustrating but I just cannot find opportunities in these conditions.

I am watching to see if a head & shoulders forms on the short term chart.

Nasdaq June edging a little higher through the recovery highs at 13330/370 for a test of resistance at the 100 week & 500 day moving averages at 13460/480.

A high for the day here yesterday.

Emini Dow Jones June remains in a wild, volatile sideways pattern which makes it so difficult to find low risk day-trade ideas. However shorts at strong resistance at 33800/900 worked perfectly again yesterday.

Update daily by 06:00 GMT.

Today’s Analysis.

Emini S&P June again meets strong resistance at 4200/4210. A break above 4230 is a buy signal.

Minor support at 4130/20 just held this week but below 4110 today risks a slide to the May low at 4075/65. We should find strong support at 4050/40 this week. Longs need stops below 4030.

A break lower is a sell signal targeting 4010/50, perhaps as far as 3990/85.

Nasdaq June break above 13390 triggers a test of strong resistance at the 100 week & 500 day moving averages at 13460/480 as predicted with a high for the day exactly here. Shorts need stops above 13530. A break higher can target 13730/750.

Holding strong resistance at 13460/480 can target 13370/330 & probably as far as support at 13250/210. Longs could be risky.

Emini Dow Jones June made a high for the day exactly at strong resistance at 33800/900 again on Wednesday |& yesterday we saw some nice profits on shorts on the slide to 33180.

Shorts on a retest of strong resistance at 33800/900 today need stops above 34000. A break higher could retest 34300/360.

We hit targets for shorts of 33700, 33550 & 33350 before a bounce from 33200. On a break below here look for a retest of last week’s low at 33050/33000. A weekly close below here tonight is a sell signal for the start of next week.

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Daily technical analysis of the US stock markets with trade ideas & signals:

S&P 500, Nasdaq & Dow Jones futures