Dax 40 June breaks out to the upside to retest the all time high at 16295.
FTSE 100 June trapped in a 120 tick range for 2 weeks.
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Today’s Analysis.

Dax June beat the all time high at 16275/295 & made it to the next target of 16370/390 with a high
for the day exactly here. Bulls are clearly in control so further gains look likely this week targeting
16440/450 & 16495/505.
Downside should be limited & we could see a low for the morning at 16300/16290 but if we see
further losses during the day I would expect very strong support at 16260/240. Longs need stops
below 16200.

FTSE June meets resistance at the high of the 2 week range at 7800/7820. Shorts need stops above

7835. A break higher is a buy signal as long as we hold above 7810/7790, targeting 7780/90 before a
      retest of the April high at 7925/35.
      Minor support at 7760/50 then better support at the lower end of the range at 7700/7690. Longs
      need stops below 7680…on a break lower look for 7655/50.

Emini S&P June broke above strong resistance at 4200/4210 & I have to take this as a
buy signal although we did dip to 4192.
Nasdaq June beat resistance at the 100 week & 500 day moving averages at
13460/480 for a buy signal & we have hit my target of 13730/750 & as far as 13960.
Update daily by 06:00 GMT.
Today’s Analysis.
Emini S&P June beat the February & April high and the 100 week & 500 day moving
averages at 4200/4210. I have to take this as a buy signal & longs need stops below
4190 of course (although we did dip to 4192).
On a break lower look for strong support at 4170/65. Longs need stops below 4155.
A high for the day at 4227 so obviously bulls need a break above here to target 4250
& even 4280/85 this week in the short squeeze.
Nasdaq June sold off to 13810 on some profit taking before the weekend. Certainly
this is no sell signal. Friday’s candle may suggest some consolidation in severely
overbought conditions but it is not time to bet against the bulls yet. However a break
below 13800 risks a slide to what should be a good buying opportunity at 13700/650.
Longs need stops below 13600.
Strong support at 13500/450. Longs need stops below 13400.
On a break above 13960 I think we can reach 14250/300.
Emini Dow Jones June mad a high for the week at strong resistance at 33660/690 so
we can try short here again this week. Shorts need stops above 33750. I would take a
break above here as a buy signal targeting 33840 then 34000.Shorts at 33660/690 did target 33550/500 for some profit taking with a low for the
day at 33394. Below here we could reach support at 33300/250. Longs need stops
below 33150.
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