Stock markets tumble on the Iran attack
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Emini S&P June has collapsed as Israel attacks Iran. The low & high for the last session were 5987 – 6051. (To compare the spread to the contract you trade)
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Emini Nasdaq June has collapsed to 21471. Last session high & low were: 21713- 21977.
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Emini Dow Jones June has collapsed to 42199. Last session high & low for the last session were: 42586 – 43002.
Emini S&P June futures
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Emini S&P tested support at 6010/6000 & longs needed stops below 5990, which was tricky as we over ran to 5988 before a 600 tick recovery.
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Over night we collapsed to strong support at 5950/40 & longs needed stops below 5930.
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We made a low for the over night session so far at 5927.50 & of course conditions are more volatile as the situation develops.
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If we continue lower look for a test of support at 5895/85.
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Longs need stops below 5875.
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We are likely to meet resistance at 5995/6005 but a break above 6010 suggests the panic is over.
Nasdaq June futures
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Emini Nasdaq made a low for the day at strong support at 21750/680 yesterday with an impressive recovery from 21713 to 21977.
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The break lower over night risks a slide to 21440/400 (a low at 21471 as I write) & perhaps as far as a buying opportunity at 21300/250.
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Resistance at 21700/21800 but a break above 21900 suggests the panic is over.
Emini Dow Jones June futures
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Emini Dow Jones made a low for the day almost exactly at support at 42660/600 before we shot higher to 43000 for up to 350 ticks profit on the longs.
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The break lower over night hit my target & buying opportunity at 42350/250 & longs need stops below 42100.
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Just be aware that a break below 42100 can target 42050/42000, perhaps as far as 41900/850.
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Longs at at 42350/250 can target 42400/450, perhaps as far as 42550/590 for profit taking.
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Further gains meet resistance at 42600/700 & shorts need stops above 42850.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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