MORNING MINUTE EQUITIES, FUTURES & OPTIONS MAY 15thUS NY Fed Manufacturing (May) -31.8 vs. Exp. -3.75 (Prev. 10.8)

Darren Krett

Monday 15 May 2023

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Equity Index

Emini SP 500, Nasdaq, Emini Dow Jones

14 May, 2023

Emini S&P June remains trapped in a frustrating, volatile, trendless sideways pattern, holding a range of just 60 points last week. 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, but the neck line is at 4055/4050, so it could be a long wait in these conditions. Nasdaq June edging slowly higher to test resistance at the 100 week & 500 day moving averages at 13460/480.

We reversed from 13494 on Friday & at one stage we traded below Thursday’s low of 13361 reaching 13311. A close below here would have left a bearish engulfing candle for a sell signal, but we recovered to close at 13370. Still, it was the most negative price action for 3 weeks & we did reject the longer term moving averages. I hope we get some follow through on Monday & finally see a decent move!! We have the 200 hour moving average plus 2 month rising trend line at 13280. So a break below 12270 SHOULD (I hope) trigger some stops & losses towards some short term moving averages & last week’s low around 13210/190. Further losses can target 13150, perhaps as far as 13070/050. Emini Dow Jones June is building a short term bear trend so this has the most negative outlook of all three. HOWEVER Friday’s price action was not exciting & we closed unchanged on the day

Today’s Analysis.

Emini S&P June stuck in a 60 point range all last week & holding minor support at 4130/20. Below 4110 today risks a slide to the May low at 4075/65. We should find strong support at 4055/50 this week. Longs need stops below 4030. A break lower is a sell signal targeting 4010/05, perhaps as far as 3990/85. A break above last week’s high at 4173 tests strong resistance at 4200/4210. Shorts need stops above 4230. 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 remains in a 1 month bear trend. We should have short term resistance at 33500/550 today. Shorts need stops above

  1. A break higher can target resistance at 33800/850. Key level on the downside is the May low at 33000. A break below here confirms we are in a short term negative trend of course & can initially target 32900/880 then the 200 day moving average at 32830. Please email me if you need this report updated or Whatsapp: +66971910019

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Equity Index

Darren Krett

Friday 5 May 2023


05 May, 2023 Emini S&P June has seen a big move to the downside from strong resistance at 4200/4210 exactly as predicted this week to te


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Equity Index

Darren Krett

Thursday 4 May 2023

DAY TRADE IDEAS MAY 4th Emini S&P June we got a second chance to sell in to shorts at strong resistance at 4200/4210 which are work

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